Bitcoin has been creating so many moderately predicable bullish patterns, however, it's tricky swing trading due to fake-outs occurring regularly.
Clearly, BTC is trading in a Bullish Pennant, however, that's always subject to change if the green upward sloping support of the pattern doesn't hold. I have colored the bullish pennant green for ease of visualization because I like leaving previous patterns on my chart to get a sense of the Macro trading environment and areas of confluence, looking back at patterns in hindsight can be a learning experience, no matter how good you are at trading there's always more to learn, especially trading crypto.
RSI is showing a descending triangle with a noticeable bearish divergence. since Jan 5th we've seen the price rise but the RSI traded sideways and downward creating lower high after lower high... It's very likely the bulls defend the bottom area of the descending triangle, expect a bounce near term.
The KST's seen a bearish cross & is trading in a not so perfect descending channel, I am expecting a bullish cross near term because we're oversold and it would characteristic given the trend thus far.
Clearly, BTC is trading in a Bullish Pennant, however, that's always subject to change if the green upward sloping support of the pattern doesn't hold. I have colored the bullish pennant green for ease of visualization because I like leaving previous patterns on my chart to get a sense of the Macro trading environment and areas of confluence, looking back at patterns in hindsight can be a learning experience, no matter how good you are at trading there's always more to learn, especially trading crypto.
RSI is showing a descending triangle with a noticeable bearish divergence. since Jan 5th we've seen the price rise but the RSI traded sideways and downward creating lower high after lower high... It's very likely the bulls defend the bottom area of the descending triangle, expect a bounce near term.
The KST's seen a bearish cross & is trading in a not so perfect descending channel, I am expecting a bullish cross near term because we're oversold and it would characteristic given the trend thus far.
