This is just a forecast I hope you can reflect on later in the month. Please do not take into trading consideration. This is just a means for me to solidify my ideas.
This is what I think bitcoin is going to follow in the coming days. First we'll see a volatile consolidation as bitcoin tests support levels, which is the orange circle. Then we'll try to break out of the channel/descending wedge and hit resistance zone which the Ichimoku cloud should form soon. If we escape that red box zone/ Future ichimoku cloud we may see a change in structure to the bull side. I just hope some of you will remember this post and comment on it later, once the path of bitcoin unravels. :)
This is what I think bitcoin is going to follow in the coming days. First we'll see a volatile consolidation as bitcoin tests support levels, which is the orange circle. Then we'll try to break out of the channel/descending wedge and hit resistance zone which the Ichimoku cloud should form soon. If we escape that red box zone/ Future ichimoku cloud we may see a change in structure to the bull side. I just hope some of you will remember this post and comment on it later, once the path of bitcoin unravels. :)
Note
I forgot the consolidation period after the breakout!
Note
Well, as you may see, the moves are almost spot on. The speed of the moves are way faster than I have expected.Note
We've found support on the yellow trend line. Hopefully we can see price rise to test 7kNote
I dont know how many people would actually look back at this post, but go ahead and press play! I'd say the chart worked out somewhat well?Note
Almost a month later! Press play :)
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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.