BTC is still being rejected at the fib level of 0.618, and now BTC looks like its creating a rising wedge pattern to continue its decline.
Next Strong Support : 44.7k - 43.7k
Lowering target of ascending triangle at 43.5k
ABCD pattern, point d can be at 43.2k
Wait n see sometimes it is the right choice option when the market is confused about where to go, like in the previous post I will just wait for BTC whether to break out or breakdown and now BTC chooses to breakdown, the target for the decline based on the pattern is in the range of 43.5k which is this area is also a BTC demand area (I explained in the previous post)
Previously BTC had managed to breakout from fib levels of 0.618 and 2.618, but the breakout was not accompanied by large volumes, so BTC again broke down and closed below fib levels of 0.618-2.618 (false breakout). I think the previous increase in BTC was because on tf 4h BTC made a double bottom pattern (bullish pattern), and when BTC managed to break out of its...
#BTC UPDATE
Fib level 0.618 becomes a strong resistance to hold BTC to go higher. I also found a bearish pattern on BTC, namely the rising wedge pattern and from the pattern I formed it was successfully broken. BTC price is still stuck at 44.2k, if 44.2k is not strong enough to hold BTC, then BTC will fall back to the next support at 42.5k
For the downside...
Right now BTC made two patterns, where these two patterns are opposite, the first pattern is the descending triangle pattern (bearish pattern, gold line) and the second is falling wedge pattern (bullish pattern, dashed line).
Let's see in the next few days which pattern happens.
But for myself i like the first pattern, which is the descending triangle...
