There will be a lot of information jam packed in this chart, therefore I will link our previous ideas to give a breakdown of each pattern we are discussing.
The first we need to discuss is out white line at the bottom with the green arrows and the green "retest" text boxes. This was the hold of the $100k region where BTC broke out to create its all time high at $109k then fell back down twice. Once to $99k for a successful retest and then later to
97K for a successful retest.
Here are our two charts that are dedicated to that specific pattern (click play to see how current price action has played out with our prediction):
The second thing to not is our white dotted trendline. This was the upper resistance of our LTF triangle and recently brokeout and retested that dotted trendline as new support.
Finally the most important line currently to focus on the lowertimeframe. That would be our orange trendline. It was a level of support for our LTF triangle that was broken tested as new resistance and now price has broken back above and is trying to use it as a floor of support for the next move higher.
You can find that LTF specific pattern in this post here:
We were predicting that price would rally to that trendline and get rejected. BTC went on to rally from $99k all the way to $103.8k. Then in real time we gave you the signal when price got rejected which can be found here.
After price fell to test the $100k level one more time we have rallied back to that line, broke through it, retested it as a support level again, and is now trying to bounce higher.
The first we need to discuss is out white line at the bottom with the green arrows and the green "retest" text boxes. This was the hold of the $100k region where BTC broke out to create its all time high at $109k then fell back down twice. Once to $99k for a successful retest and then later to
97K for a successful retest. Here are our two charts that are dedicated to that specific pattern (click play to see how current price action has played out with our prediction):
The second thing to not is our white dotted trendline. This was the upper resistance of our LTF triangle and recently brokeout and retested that dotted trendline as new support.
Finally the most important line currently to focus on the lowertimeframe. That would be our orange trendline. It was a level of support for our LTF triangle that was broken tested as new resistance and now price has broken back above and is trying to use it as a floor of support for the next move higher.
You can find that LTF specific pattern in this post here:
We were predicting that price would rally to that trendline and get rejected. BTC went on to rally from $99k all the way to $103.8k. Then in real time we gave you the signal when price got rejected which can be found here.
After price fell to test the $100k level one more time we have rallied back to that line, broke through it, retested it as a support level again, and is now trying to bounce higher.
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.
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.