-higher time frames and longer time patterns give better insight of what is going on btc market
-if look at 1 week btc chart a giant symmetric triangle has been formed in past 7 months and ATH (look at my previous analysis for details)
-we simply analysis this giant triangle and we will have better understanding of the way ahead
-above chart shows what happens now, in a few days after 7 months we will find out the final output of this pattern, if it holds the current level the pattern is complete and we can expect a target of 24k if successful in coming months as a result of this giant symmetric triangle pattern and calculations, check the chart for details.
-if look at 1 week btc chart a giant symmetric triangle has been formed in past 7 months and ATH (look at my previous analysis for details)
-we simply analysis this giant triangle and we will have better understanding of the way ahead
-above chart shows what happens now, in a few days after 7 months we will find out the final output of this pattern, if it holds the current level the pattern is complete and we can expect a target of 24k if successful in coming months as a result of this giant symmetric triangle pattern and calculations, check the chart for details.
Note
this idea is mid-long term, but to continue upward first price action must have close and hold above MA 20 Daily; yesterday a minor breakout visible on daily chart occurred toward MA 20:Note
the down trend continues but price action technically still not violated the down trend (look at condition 1 in chart below), I am not sure how far it can go down and not violating the trend line and still breakout assumed to be valid, by the way at this time it still seems intact.Note
Note
Ok, squeeze took place and price action crossed up daily MA 20 and it seems it is on track to destination target in coming months:
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.