Tastemaker
Short

Bitcoin Confirming Falling Wedge and Falling to 200MA?

POLONIEX:BTCUSDT   Bitcoin / Tether USD
Bitcoin             is currently sitting atop the strongest channel of 2017 (Green Lines), a strong previous resistance that has now become support. However, after a failed bullish symmetrical triangle off the ATH             , we can now see a bearish triangle being formed at this support (dotted lines). BTC             has failed to maintain above the Daily 100MA, and has a history of bouncing off of either the Daily 50, 100, or 200MA. Therefore, I hypothesize that it will find a bounce at the 200MA. There are a lot of interesting things beginning to come together on the daily chart for BTC             at this level. Not only is it sitting at the bottom of that strong growth channel (which was a steady channel unbroken until the holiday season FOMO), but it is also at the 61.8% fibonacci retracement level. I also believe that this drop will confirm a falling wedge scenario (red lines), where we can begin to see a bottom/breakout zone around that area. Finally, if it is to remain bullish , it makes sense that Bitcoin             would ultimately return to the more natural growth channel it was in before the new money flooded in, pumping the price.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden