Bitcoin possibility of Bull & Bear Trend.
Bearish pattern possible on BTC/USD.
Could potential go to $3000 - $4000 (mid line)
In worst case scenario, it may fall to bottom support line.
long term bearish target might be under $1000. (I highly doubt it)
Bullish pattern possible on BTC/USD.
Could potential go to $50000- $70000 (mid line)
In best case scenario, it may rise to top resistance line.
long term bullish target might be over $300000. (I highly doubt it)
Combining bullish & bearish pattern it clearly shows rising wedge pattern.
Overall, rising wedge pattern is bearish. However if support line holds, we may expect to see price go upward till hit another resistance line. Otherwise we may see price drop in large scale.
In my personal view, I think the price may bounce the rising wedge's support line and go upward, However I will be very cautious and take profit as soon as price gets close to resistance level.
Could potential go to $3000 - $4000 (mid line)
In worst case scenario, it may fall to bottom support line.
long term bearish target might be under $1000. (I highly doubt it)
Bullish pattern possible on BTC/USD.
Could potential go to $50000- $70000 (mid line)
In best case scenario, it may rise to top resistance line.
long term bullish target might be over $300000. (I highly doubt it)
Combining bullish & bearish pattern it clearly shows rising wedge pattern.
Overall, rising wedge pattern is bearish. However if support line holds, we may expect to see price go upward till hit another resistance line. Otherwise we may see price drop in large scale.
In my personal view, I think the price may bounce the rising wedge's support line and go upward, However I will be very cautious and take profit as soon as price gets close to resistance level.
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