Hello friends, today you can review the technical analysis idea on a 1H linear scale chart for Bitcoin (BTC).
The chart is self-explanatory. The Bitcoin price is moving up the short-term rising broadening wedge pattern (generally bearish) and may be met with the Ichimoku Cloud (red - bearish). The Volume came in earlier today but seems to have dropped. The RSI is moving upwards in a rising channel. The Fibonacci Retracement shows the price hovering in the 0.786 area and having trouble closing a candle body above it for now. Overall the price may have the potential to move higher with the RSI moving higher to the overbought area before a retracement.
In the ideas noted below are a few mid-term and long-term Bitcoin charts. Please review.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
The chart is self-explanatory. The Bitcoin price is moving up the short-term rising broadening wedge pattern (generally bearish) and may be met with the Ichimoku Cloud (red - bearish). The Volume came in earlier today but seems to have dropped. The RSI is moving upwards in a rising channel. The Fibonacci Retracement shows the price hovering in the 0.786 area and having trouble closing a candle body above it for now. Overall the price may have the potential to move higher with the RSI moving higher to the overbought area before a retracement.
In the ideas noted below are a few mid-term and long-term Bitcoin charts. Please review.
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Nota
Bitcoin couldn't break the 0.786 Fib level and got rejected. Price could go for a double bottom pattern.
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.