Chart Pattern Analysis Of Bitcoin.
https://www.tradingview.com/x/XSFEMmmO/
K1 and K2 is strong bearish engulfing,
But unfortunately, K3 failed to close below K2 to verify the strong momentum.
And the supply pressure sharply decreased.
So, it is possible that the following candles consolidate here for weeks and then choose to break up or fall down.
On the other hand,
It is also likely that K4 will break up immediately and another bull run stars here.
If that’s the fact,
The present months scale consolidation will be terminated here.
Long-60.4K/Stop-60K/Target-74K
Long-66.5K/Stop-66K/Target-74K
K1 and K2 is strong bearish engulfing,
But unfortunately, K3 failed to close below K2 to verify the strong momentum.
And the supply pressure sharply decreased.
So, it is possible that the following candles consolidate here for weeks and then choose to break up or fall down.
On the other hand,
It is also likely that K4 will break up immediately and another bull run stars here.
If that’s the fact,
The present months scale consolidation will be terminated here.
Long-60.4K/Stop-60K/Target-74K
Long-66.5K/Stop-66K/Target-74K
Comment
From K1 to K3,
It is a strong bullish morning star pattern.
It seems that the previous bearish momentum had been stopped here.
If the following candles consolidation here to verify the bullish momentum,
Or, the following candles close upon the downtrend line,
It will be a good place to buy it here.
Long-64.5K/Stop-64K/Target-74K
Long-62K/Stop-61.5K/Target-74K
Comment
K2 and K3 verified a fact that the supply or demand pressure keep at low level here.
The market will choose to break up or fall down at K4.
If K4 close below K3,
I will try to decrease my long-term positions.
If K4 close upon K2,
I will try to buy it here.
Buy-64470/Stop-64000/Target-74K
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