BTC diamond pattern
waaaSUP everyone, i thought i would share this one,
I was charting away and drew the wedge channel BTC is in. The white trend line is from body of the candles the blue is from wicks of the candles.
If you notice the blue trendline of the wedge has hit the last wick bang on
You will also see the bear flag that BTC is currently in ready to go somewhere, It could form a double bottom very soon which would also make this a Two diagonal diamond continuation pattern or possible reversal pattern depending if it broke out or not.
So ye theres my idea, another thing is there is a bull divvy on the 2hr.
On the daily we are below the 50MA, by a thread, but if we break the 50MA on the daily i would suggest the probability would be more favourable of hitting the top of that wedge.
But we will soon see, Happy weekend :)
I was charting away and drew the wedge channel BTC is in. The white trend line is from body of the candles the blue is from wicks of the candles.
If you notice the blue trendline of the wedge has hit the last wick bang on
You will also see the bear flag that BTC is currently in ready to go somewhere, It could form a double bottom very soon which would also make this a Two diagonal diamond continuation pattern or possible reversal pattern depending if it broke out or not.
So ye theres my idea, another thing is there is a bull divvy on the 2hr.
On the daily we are below the 50MA, by a thread, but if we break the 50MA on the daily i would suggest the probability would be more favourable of hitting the top of that wedge.
But we will soon see, Happy weekend :)
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.