BTC Chart - major formations right now
I'll leave most of the analysis to others, but here are a few highlights that I see:
We are in an ascending wedge, which has the potential to break bearishly. The extreme apex of the wedge is appx 9600.
If we fall from the ascending wedge, we'd hopefully use the ATH log line as resistance. If not, there is still major support in the 8000-8500 area. Falling below 8000 would be quite bearish in my view.
If we climb to 9100 and are rejected again, it has the potential to be either a short-term double-top formation (double from yesterday), or a stronger triple-top formation (from yesterday and March 20/22)
Large Adam-and-Eve formation at appx 11.7, which would be very bullish if confirmed. Or, if we climb to 11.7 too quickly again we could reject it as a triple-top.
We are in an ascending wedge, which has the potential to break bearishly. The extreme apex of the wedge is appx 9600.
If we fall from the ascending wedge, we'd hopefully use the ATH log line as resistance. If not, there is still major support in the 8000-8500 area. Falling below 8000 would be quite bearish in my view.
If we climb to 9100 and are rejected again, it has the potential to be either a short-term double-top formation (double from yesterday), or a stronger triple-top formation (from yesterday and March 20/22)
Large Adam-and-Eve formation at appx 11.7, which would be very bullish if confirmed. Or, if we climb to 11.7 too quickly again we could reject it as a triple-top.
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