Indications for next move in BTC
Mis à jour
After the recent big moves I thought it was worth reassessing what patterns BTC has formed on the shorter duration charts, to get an idea of the next big move.
240 minute chart:
You can see the ascending triangle (in yellow) produced a breakdown on April 11. However, in doing so there is a new uptrend channel visible (in blue), which is containing movement since April 3.
30 minute chart:
Price appears to be moving in a smaller ascending triangle (in purple). If this breaks down I would be watching for support at the lower blue line of the ascending channel, currently at about $4945. If it breaks to the upside, target would be $5190 based on the height of the triangle, with possible further to the top blue line.
240 minute chart:
You can see the ascending triangle (in yellow) produced a breakdown on April 11. However, in doing so there is a new uptrend channel visible (in blue), which is containing movement since April 3.
30 minute chart:
Price appears to be moving in a smaller ascending triangle (in purple). If this breaks down I would be watching for support at the lower blue line of the ascending channel, currently at about $4945. If it breaks to the upside, target would be $5190 based on the height of the triangle, with possible further to the top blue line.
Note
Purple triangle broke down as I clicked publish. Looking for an entry if price bounces from $4945, initial stop-loss $4920 and target $4945.Note
correction to above, target $5190.
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