BTC moving in 4H inside this black descending triangle. close price is to the head of the triangle small changing in price it is. its moving in range of 100$ now so its very risky to trade this now. if you look to all previous trend you can see how lows of price goes on one straight line and once goes under this line it come back directly to the line. whats happening now is if price break triangle to the down side it will be a huge drop and most likely will goes to the main line which is holding the lows for this drop, that means most likely will drop under 2000$ just if it breaks this ascending triangle to the down side. in other hand if price break the triangle from the up side a bull will start and i expect it to hit 5000$. also we can see that price goes under EMA 55 on 4H so it should break it first to confirm the bull. now BTC playing up down in small range and it could be tricky so be careful. better to wait and keep eye on it.
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resistance at 3500$ then 3700 if it break 3700$ at 4h will be confirmed as bullish to 5200$
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follow update idea in related ideas for more details in 5min chart
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more detalis in 5min chart
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BTC forming shoulders and head inside the descending triangle at 2H, but until now it didnt break the neckline. actually it made some small bounce from 3400 to 3500.
the descending triangle and the form of shoulders and head is still valid. so BTC either break the descending triangle up at 4H or break the form of shoulders and head down at 2H to 3200 as first target.
the descending triangle and the form of shoulders and head is still valid. so BTC either break the descending triangle up at 4H or break the form of shoulders and head down at 2H to 3200 as first target.
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interested weekly trend for Bitcoin
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risky to trade this here. wait for confirm under weekly support to short or above EMA 55 to long. it could fall suddenly to 3200$ but also it could pump suddenly after falling, so be careful.
www.tradingview.com/...10ea565077cdeffc8ad/
www.tradingview.com/...10ea565077cdeffc8ad/
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