Priceactionstrategies
Did you see the one thing that trader doesn't see in Bitcoin?Hello everybody, good morning for you!!!
Well, in this technical analysis I want to saw what Bitcoin make because from Friday Bitcoin is in range of consolidation, but the theory say that is so bullish, I have a surprise for you in one timeframe that I experiment to analyze it.
Lokk firstly in Daily, I see a change of updates Bitcoin in least that Bitcoin is in the bearish channel, Bitcoin was formed a bullish rising wedge in Daily timeframe and we complete the Elliot Wave Correction ABCDE, and just we hope that Bitcoin continue up in the next days of this week. Also, this purple zone are interesting because it's a support zone of Daily dinamic that Bitcoin show us resistance of there.
In H4 timeframe is you noticed it, in H4 we see a flag triangle simetric that show an accumulation in this zone, so in conclusion, buyers are here defend a Bitcoin above of $9,200 USD, So, also look up in the candlestick that was up and down, that is a indecision of the market and this candlestick is closed up in 5 minutes to complete this candlestick. That show an interesting information!!! And also if you see the indicators as MACD or RSI it's show us a possible long position what the price increase. That mean a explosion movement very soon of Bitcoin, and this case I hope an explosion until the $9,800 USD approximately, while that in my previously analysis I mentioned that Bitcoin was in double bottom and it's could to prepare to break up the channel, now this channel was formed in bullish rising wedge.
And finally, I reperesent the one thing that trader doesn't see in Bitcoin. Look, this is a H8 timeframe and I use this timeframe to analyse one hting in H4 timeframe that I found out. I found out that Bitcoin is formed a chartist pattern called cup and handle, that mean a bullish pattern and Bitcoin is strenghten. I mark this purple circle to found out the key points, and also, if you have a reference, look the RSI how the forece of buyers increase in H8 timeframe.
So guys, this is my technical analysis and how Bitcoin's conduct do.
