BITCOIN (BTCUSD, XBTUSD) has just broke out the resistance of March 20. It is stronger than expectation, since it broke up without much retrace. Now in 4H, Bull looks pretty powerful
Price is very close to the end of the structure.
Green (Bull Context) is taking most of the ribbons of "9 Seasons Rainbow Multiple Time Frames Pattern Indicator".
For the past two weeks, Bull was moving up, slowly but steady, step by step.
RSI > 70
Poll 1 Is it more like a Cup Handle or an Ascending Triangle? What is your opinion? Leave your comments.
Poll 2: Do you think a big breakout or a fading to downside will happen for the coming two weeks? Leave you comments.
If you like this charting, please like it. I appreciate your thumbs up. If you don't like it , leave your comment as well, so let people see how you analysis.
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DISCLAIMER This is only a personal opinion and does NOT serve as investing NOR trading advice. Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
@ceesounds, Thank you for sharing opinion with us.
I have granted you access to "9 Seasons Rainbow Multiple Time Frames Pattern STANDARD" for a one-week free trial.
TheAlphaTrades
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Always appreciate your work!
I've posted my BTC analysis and explained the strength of movement in my analysis + given out a few FREE trades to watch :)
go8686
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@Cryptosomniac, Thank you for sharing your reasonable analysis with us.
You has access to "9 Seasons Rainbow Multiple Time Frames Pattern STANDARD" for a one-week free trial.
go8686
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In Weslad's chart, it is ascending triangle
SebastianofMoon
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Hi, well I vote for a break to the downside.
The reasons are:
1. Declining volume
2. Ascending triangle formation in bearmarket usually bearish
3. Final capitulation in this bear cycle has not yet happened
4. Daily transactions still below all time high
5. Market psychology still too bullish
Well, that's what I think. I might be wrong of course, because BTC is BTC and can surprise us, but I see the probability higher for new lows before the bull resumes in 2020.
go8686
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@FlaviusTodorius67, Thanks for your reasonable opinion. Please refer to Flavius' Idea