Open:
High:
Low:
Close:
PENNANT
Bitcoin
BTC/USD
1H
There is a pennant taking place and btcusd needs a move as a clue of a breakout.
In case if price breaks out to the the downside, the move could identify a next move down.
Btcusd is bearish and en route to 64800 as upside pressure mitigates.
PENNANT
Bitcoin
BTC/USD
1H
There is a pennant forming, the price is going to break out.
Once price breaks through the resistance, the resulting move could indicate a bullish move.
It is likely that a bullish push up towards 65200 will be made on a breakout of the pennant as the cryptocurrency nears 65000 hurdle.
RISING WEDGE
Bitcoin
BTC/USD
1H
There is a rising wedge encountered and btcusd expects a bigger correction to confirm a breakdown.
A rising wedge represents a technical price signal that can be used to spot a next move down once price collapses through the support line.
There is a chance of a bearish continuation towards the 64800 zone as bears seeking a new low.
FALLING WEDGE
Bitcoin
BTC/USD
1H
The price shapes a falling wedge.
A falling wedge typically results in a next move up once price breaks out.
Btcusd to maintain its positive tone to the 64600 level.
RISING WEDGE
Bitcoin
BTC/USD
1H
There is a rising wedge arising, the price breaks out soon.
Once price breaks out, the move could predict a temporary interruption during a rising market.
There is a chance of a further rangebound towards 64400 while lower than 64450 as there is room for a downside correction.
ASCENDING CHANNEL
Bitcoin
BTC/USD
1H
It seems like an ascending channel materializes.
An ascending channel is said to depict a useful price signal that often predicts a move down once price collapses through the support line.
A further move to the 64400 zone is about to happen once below 64650.
DESCENDING TRIANGLE
Bitcoin
BTC/USD
4H
It seems like a descending triangle develops.
In case if price breaks above resistance, the resulting move could identify an extension in the upward direction.
There is a chance of a further bullish price action towards 64500 on a breakout of the descending triangle.
RISING WEDGE
Bitcoin
BTC/USD
1H
We can see that a rising wedge develops.
If price breaks down, the move could identify a bearish price move.
There is a chance of a further bearish price action to 64000.
RISING WEDGE
Bitcoin
BTC/USD
1H
As we can see a rising wedge is very close to being finished, the price breaks out.
A rising wedge typically predicts an upward trend is nearing its end once price breaks down.
Extra downside to the 63500 level is possible on a breakout of the rising wedge.
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