BITCOIN (BTC / USD) BANG !! Bitcoin, continues to rise. In search of New Maximos. Bitcoin Repeats Bullish pattern. If you are a bitcoin investor you should see this pattern
Bitcoin has broken the 4 identified range, and has gone higher, the upward movement continues.
Now it may be repeating bullish pattern to continue to rise.
We will see
Bitcoin is rising steadily forming accumulation ranges.
This is the link of the article in which I analyze the bullish pattern of Bitcoin
It has already made 4 ranges and has broken upwards and has already formed the price a fourth range has followed the different moments identified in the accumulation range.
Hive and Leofinance family needs your support, give the post a like, if you appreciate the content, help with your vote and you will also be helped by the hive family, thanks
Let's start at
If the price forms a new bullish channel, it would be the 5th time it repeats the same pattern.
How the price moved in this range
The price has retested the lower limit on several occasions, which has been repeated in previous ranges that it has formed.
The price also made a False Break reaching a new Historical Maximum but it lasted a short time, which it did in the previous ranges analyzed
At the end of the ranges, it performs a downward wick eliminating bullish positions.
The price has repeated the same moments identified in these accumulation ranges that were previously analyzed.
Accumulation range, identified moments
1- After each break of the previous channel, Bitcoin hits a high and goes back a little more than 3%.
2- Reinforce the channel by touching its lower and upper limits.
3- Make false breakout price higher, low volume
4- Retest the lower limit of the Bitcoin price in the channel, with good stop volume.
5- Breaks the channel in a bullish way, with an increase in Volume
Current situation
Bitcoin after starting to form a new range has made a false break, a new historical maximum, but quickly the price re-enters the range and touches the lower limit and bounces.
It is breaking the bullish channel, we are at moment 5 with good volume was the break.
In the last few days the range has been consolidated by moving the price between the lower limit of the range trying to eliminate positions leveraged to the upside.
Bitcoin today
The breakout of the range was with a lot of volume and there was no retest to the upper limit of the range. This confirms us as a valid breakout and that it can go in search of new highs.
The price does not go back in the last hours, this is giving us valid the break of the range and indicating that the upward movement has not ended in the next few hours we can see Bitcoin continue to rise perhaps up to 70,000 dollars forming a new range.
Bullish
With this new break to the upside we could overcome the new all-time high for Bitcoin. Perhaps looking to form a new range or start to form a new bullish pattern.
The price could end this week testing $ 70,000.
Down
You always have to look at different possibilities of the price, although bitcoin in the long term indicates that it is bullish.
Bitcoin has been in range for several weeks and the breakout has left many bullish positions untapped
If there is no volume, little interest in Bitcoin can happen that breaks down looking for price support.
A wick down for a few minutes should not be discarded
The 60,000 is still a good support.
I will continue analyzing when we find ourselves in this bullish pattern of Bitcoin.
What you think ?
Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
We will continue monitoring To be attentive Protect your Investments
Feel free to use and share my post or graphics, but please mention, @criptoar as the author. Otherwise, consider plagiarism and I will call you and advise my friends to do the same.
READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are. Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment. If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
For your vote or comment, thank you
Posted Using LeoFinance Beta
