Bitcoin BTCUSD - Where's it going short-term? A few (weak) ideas
Total speculation here but just showing you what I'm looking out for.
I see a possible Head & Shoulders (yellow). There's a similar pattern on Bitstamp too. Neither are totally convincing, but worth pointing out.
If it does end up hitting that target, it might be a good setup for another larger Head & Shoulders (orange) if it decides it's not ready to go further up yet. If that plays out it would also start to look like a Rounding Top on higher timeframes.
Or it could simply keep consolidating and turn into a Triangle/Wedge shape (purple) and then we'd just look for a breakout.
...or it could just do something totally unexpected...it's bitcoin.
How's that for being totally noncommittal? I'm bound to be right somehow! :)
I see a possible Head & Shoulders (yellow). There's a similar pattern on Bitstamp too. Neither are totally convincing, but worth pointing out.
If it does end up hitting that target, it might be a good setup for another larger Head & Shoulders (orange) if it decides it's not ready to go further up yet. If that plays out it would also start to look like a Rounding Top on higher timeframes.
Or it could simply keep consolidating and turn into a Triangle/Wedge shape (purple) and then we'd just look for a breakout.
...or it could just do something totally unexpected...it's bitcoin.
How's that for being totally noncommittal? I'm bound to be right somehow! :)
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.