Hello Everybody,
Welcome to my first post. Here I will outline the three patterns I will be watching going forward for bitcoin.
1. Descending triangle: Lower highs are the best we've seen since the peak around $14000 and the lows are bottoming around $9000. Expecting a break down below $9000 at some stage.
2. Descending channel. This pattern may be in play if bitcoin breaks the $9000 support. Should bounce around $8700.
3. Uptrend support. Bitcoin finds the bullish uptrend line after breaking $9000 and climbs closer to the moon.
We are in very oversold territory at the moment. Expecting a strong bounce when we find the support needed.
Thanks for reading!
Goodbye
Welcome to my first post. Here I will outline the three patterns I will be watching going forward for bitcoin.
1. Descending triangle: Lower highs are the best we've seen since the peak around $14000 and the lows are bottoming around $9000. Expecting a break down below $9000 at some stage.
2. Descending channel. This pattern may be in play if bitcoin breaks the $9000 support. Should bounce around $8700.
3. Uptrend support. Bitcoin finds the bullish uptrend line after breaking $9000 and climbs closer to the moon.
We are in very oversold territory at the moment. Expecting a strong bounce when we find the support needed.
Thanks for reading!
Goodbye