On the daily timeframe, the price moves in the trend continuation pattern. At the moment, we are at the lower border, where we can approach up. Purchases are still a priority. The situation will change only when the price goes down and is fixed under the figure.
On local timeframes, we have an extremely organic upward movement on large volumes. Today, there was a correction and retest of the global, mirror support zone, which was previously the main resistance zone. Therefore, in the near future, continued growth looks very likely.
On the chart, there is a noticeable compression to the resistance. You can also note the reluctance of the price to update the lows, which is why a smooth reversal is formed. You can also see an inverted Head and Shoulders based on this, at the moment, the growth is most likely To observe the reaction of the price to the resistance zone.
A double bottom is formed on the 1D timeframe. There is also a bullish engulfing at 4H. Therefore, I still expect the price to rise.
Despite yesterday's correction, the upward movement remains a priority. The Head and Shoulders is formed on the 4-hour timeframe. Therefore, I am waiting for confirmation of the pattern and its development up to the 9700 mark.
At the moment, on the 1D timeframe, the price is under the local resistance level and as long as it is kept under it, the probability of continuing the decline is high. The growth scenario can only be considered if the price is fixed above the resistance. Now, it is quite possible to expect a hike in the price to the 9200 zone and there you will need to monitor...
After testing the support I wrote about in the previous post, the first signs of recovery appeared. A bullish wedge was formed and confirmed on the 1D timeframe. In the near future, growth is likely to continue, through the formation of a kind of Inverse Head And Shoulders. Therefore, in the near future, I am inclined to continue growing.
Inverse Head And Shoulders pattern is formed on the 1 hour timeframe. I expect the stock to grow if the resistance level of 41.55-42.45$ is broken.
At the moment, the bearish wedge pattern is being formed on the 4-hour and 1-day timeframes (marked on the chart). I expect that the bears will be able to keep the price below the resistance level of 193.40-203.20$ and the correction will continue. I will look for an entry to the short based on what I have said, but it is also worth taking into account the local situation.
The price has fixed above the mirror support level and is gradually moving up. Also, there is a gap on the top of the CME and it is logical to wait for its closure now. Therefore, growth is most likely in the near future.
Bitcoin price is currently consolidating between two trend lines and forming a triangle pattern. There is a high probability that the price will increase significantly after breaking through the upper border of the figure.
The price went up from a narrow range on a large volume. On the 4h timeframe, a full-bodied candle was formed on a large volume and a candle with a long shadow at the bottom, which indicates a buy-off on the part of buyers. In the near future, growth is likely to continue, possibly through testing the mirror support level.
The price bounced back from the local support level. On the 4h. chart, a Head and Shoulders was formed, which is very likely to play up. A bullish pin bar was formed on 1d. The probability of growth at the moment is high.
On the 4h timeframe a pennant has been formed, which is making its way towards the trend, and the trend is now ascending. There is already a designated support level in the range of 8600-8500. Now it is desirable to consider entering long when exiting the figure and fixing the price above the level of 9000.
The double top pattern is formed on the 1-day timeframe. At this time, the formation has not yet been confirmed. Conservatively enter the short only after its confirmation, that is, after breaking the support level of 6600-6700$.
The head and shoulders pattern was formed on the 4-hour timeframe. If the support level 6600-6700 will be broken, I expect the price to continue falling.
I expect the formation of this pattern to be completed and, if the resistance level 173.55-176.4$ is broken, I expect the price to rise.
If the resistance level 49.71-50.86 is broken, I expect growth of quotations.