BTCUSD UPWARD CHANNEL ( BREAKOUT ? )
WEEKLY CHART
As we can see in the weekly chart bitcoin is inside this falling wedge that in some point in the future will break out of it from the upside direction and it will start the after halving 3rd bull run. So the possibilities are 1st to break more quickly and 2nd to fall first around 7000$ and then breakout that giant falling wedge.
4-HOUR CHART
In that chart we can see after the crush that lead bitcoin at around 8200$ the price formed an ascending triangle and after breaking it it formed this upward channel that is following until now. It had some times- possibilities to breakout from up or down but until now it is following that channel. I think the breakout from this channel it will lead a run upwards ( $9400) or downwards ($7000).
Ascending triangle
30-MIN CHART - UPWARD CHANNEL
I post this 30 min chart only to show that strong upward channel that was created inside the triangle and after the triangle breakout the bitcoin price follows that channel.It is an important price channel and we see the bounces in the limits.It will have more opportunities in the future for bitcoin to break that channel and when that happen it must have a lot of volume to have a long run.
SCENARIOS
As the charts saying i thing because of the breakout of the triangle that leads to gains at around $9300 and also the upward channel the price will continue to be bullish until that and then if it breaks it i will start the major bull run but if it breaks the channel it may fall at around $8640 or $7000 in that range.
This is my thoughts of what will happen after it breaks all the previous resistances and trend lines and starting forming the new halving bull run.
This is only my opinion and not a trading advice. Thank you!
As we can see in the weekly chart bitcoin is inside this falling wedge that in some point in the future will break out of it from the upside direction and it will start the after halving 3rd bull run. So the possibilities are 1st to break more quickly and 2nd to fall first around 7000$ and then breakout that giant falling wedge.
4-HOUR CHART
In that chart we can see after the crush that lead bitcoin at around 8200$ the price formed an ascending triangle and after breaking it it formed this upward channel that is following until now. It had some times- possibilities to breakout from up or down but until now it is following that channel. I think the breakout from this channel it will lead a run upwards ( $9400) or downwards ($7000).
Ascending triangle
30-MIN CHART - UPWARD CHANNEL
I post this 30 min chart only to show that strong upward channel that was created inside the triangle and after the triangle breakout the bitcoin price follows that channel.It is an important price channel and we see the bounces in the limits.It will have more opportunities in the future for bitcoin to break that channel and when that happen it must have a lot of volume to have a long run.
SCENARIOS
As the charts saying i thing because of the breakout of the triangle that leads to gains at around $9300 and also the upward channel the price will continue to be bullish until that and then if it breaks it i will start the major bull run but if it breaks the channel it may fall at around $8640 or $7000 in that range.
This is my thoughts of what will happen after it breaks all the previous resistances and trend lines and starting forming the new halving bull run.
This is only my opinion and not a trading advice. Thank you!
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