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Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
This is part 2 of 3 posts I want to share with you about what is driving me on the Bitcoin/Usd chart.
Many crypto-traders are very bearish for many different reasons depending on their own approach. I certainly respect their opinion but what the chart is telling me is to be neutral at the moment.
Let's see why ...
WEEKLY CHART
Inside the main Channel (explained in part 1) we can spot a lot of patterns which reached their targets during past years:
- A: Ascending Triangle
- B: Ascending Triangle
- D: Symmetrical Triangle (better seen on the daily chart)
- E: Pennant (better seen on the daily chart)
- F: Descending Triangle
- G: Symmetrical Triangle
- H: Head & Shoulders Continuation
- I: Head & Shoulders Top Failure
This is to prove that BTC/USD has been quite reliable in terms of Classical Charting.
Looking at last candles it is clearer that prices are testing both the lower boundary of the Channel and the previous level at 20'000.
Let's focus on the most recent price action with the next post (daily chart) ...
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
═════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
══════════════════════════════
Hello Traders ✌
This is part 2 of 3 posts I want to share with you about what is driving me on the Bitcoin/Usd chart.
Many crypto-traders are very bearish for many different reasons depending on their own approach. I certainly respect their opinion but what the chart is telling me is to be neutral at the moment.
Let's see why ...
WEEKLY CHART
Inside the main Channel (explained in part 1) we can spot a lot of patterns which reached their targets during past years:
- A: Ascending Triangle
- B: Ascending Triangle
- D: Symmetrical Triangle (better seen on the daily chart)
- E: Pennant (better seen on the daily chart)
- F: Descending Triangle
- G: Symmetrical Triangle
- H: Head & Shoulders Continuation
- I: Head & Shoulders Top Failure
This is to prove that BTC/USD has been quite reliable in terms of Classical Charting.
Looking at last candles it is clearer that prices are testing both the lower boundary of the Channel and the previous level at 20'000.
Let's focus on the most recent price action with the next post (daily chart) ...
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
═════════════════════════════
⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
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