Seeking a clue for breakout and direction, Bitcoin chart!Hello! Friends,
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Till trend is up in other timeframe so, 10% higher chance to move up the side.
seeking a clue for the time of breakout and direction.
The consolidation will continue until we didn't get test of money makers.
Don't take any position: See k first to understand, then to be understood.
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"" Intraday(30min charts) CHART ""
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Presently Bitcoin price is following parallel channel on 30 minutes timeframe chart:
Target was achieved.
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"" DAILY CHART ""
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PART (i):
Wave Theory
This is the only chart which is looking for a downward move. ..!
PART (ii):
We have seen upbreak as expected.
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"" WEEKLY CHART ""
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PART (i):
Till not found any -ve sign on weekly chart of patterns:
Relation of Cong estion vs. Volume exa mination:
Herein, 4 CONGESTION found throughout VOLUME declined. 5th Congestion expected because of weekly candle gooing to closed today with both sides of the legs.
All the Congestion has low volume and after the breakout, we are seeing a single directional move.
If we are at the CONGESTION phase, we will see a surge in price after the breakout. In the current case, we have more volume compared to all other Congestion phases.
PART (ii):
Following patterns has been detected-:
initiative movie
two triangles
rounded move with low volume
tails (while u-turn )
Bitcoin is trading in Up-Wave .
