BTC Chart and Prediction

What do you think?

So far, looking at the four hour chart, bitcoin has followed the inverse head and shoulder pattern (Green) and if it continues to do so we are ready to go to the moon. But if BTC breaks the inverse head and shoulder pattern and heads downwards crossing the support level (Red) then there are chances that it will follow the trend it has been following from the beginning of February month (Blue).

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This information is not a recommendation to buy or sell. It is to be used for educational purposes only.

Bình luận:

Bitcoin is heading downwards. This could be a deep right shoulder of the inverse head and shoulder pattern (Green). Right now we are testing the support level (Orange) at 9500 USD, but if it crosses this support level then we might be proceeding to check another support level (Red). From this level (Red) BTC can bounce back but not sure about that cause looking at the previous downtrend it seems like the BTC could follow downwards channel (Blue).

If BTC follows the inverse head and shoulder pattern with deep right shoulder, it might head upwards. But, if it heads down and fails the (Red) support level then we may see even more downfall in the price of BTC than last time (6th Feb). Fingers crossed.

Bình luận:

Seems like Bitcoin is following the February trend...