Open:
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FALLING WEDGE
Bitcoin
BTC/USD
1H
There is a falling wedge emerging and the price is ready to break out soon.
A falling wedge is considered to be a useful pattern with a downward bias that often signals a move up in case if price breaks through the resistance.
A rangebound towards the 98000 mark stays on the cards.
RECTANGLE
Bitcoin
BTC/USD
4H
Btcusd sets up a rectangle.
If price breaks below support, the resulting move could signal prices are likely to keep falling downward.
Btcusd does not rule out a move to the 100000 mark as upside pressure seen easing.
SYMMETRICAL TRIANGLE
Bitcoin
BTC/USD
1H
We can see that btcusd develops a symmetrical triangle, the price asks for active push down to confirm symmetrical triangle breakout.
A symmetrical triangle is said to depict a useful pattern that typically predicts a bearish price action if price breaks down.
There is a chance of a rangebound to the 102000 mark as the cryptocurrency keeps the bid tone.
DESCENDING CHANNEL
Bitcoin
BTC/USD
1H
A descending channel materializes.
A descending channel describes a technical chart formation that has a downward slope that results in that the price to go long if price breaks out.
Btcusd risks a move towards 104000 on a upside break as the mood may improve.
PENNANT
Bitcoin
BTC/USD
1H
As we can see a pennant takes place, the price is breaking out.
In case if price breaks through the support, the move could predict a sharp decline.
Btcusd now looks towards 103000.
DESCENDING CHANNEL
Bitcoin
BTC/USD
1H
It looks like a descending channel is close to being completed, the price is close to breaking out soon.
A descending channel depicts a compelling formation that has a downward slope that can be used to signal a bullish price move once price breaks through the resistance.
It is possible that a rangebound towards the 105000 zone will happen while above 104600 as uptrend may continue.
DESCENDING CHANNEL
Bitcoin
BTC/USD
1H
It seems like btcusd develops a descending channel and the price requires an active bullish action as a sign of a breakout.
If price breaks out to the the upside, the move could indicate a downward trend is about to reverse into an upnward trend.
Btcusd could attempt a move towards 104000 as there is room for a upside correction.
ASCENDING CHANNEL
Bitcoin
BTC/USD
4H
It looks like an ascending channel has been noticed, btcusd calls for a more steady bearish continuation as a sign of a breakout.
An ascending channel describes a compelling chart indicator that typically identifies price reversal after a pause once price breaks out to the the downside.
Btcusd challenges a move towards 102000 as btcusd becomes capped.
RECTANGLE
Bitcoin
BTC/USD
1H
It seems like a rectangle is close to being finished, the price requests a steady move to confirm a breakdown.
When price breaks out, the move could predict the more likely potential of falling prices.
It is not ruled out that corrective downside towards the 104500 zone will happen on a break below 104700.
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