As I sit here to see what bitcoin will do, I will write my first tradingview post, I see two possible scenarios a Single Busted Double Top- price will need to stay above the trend line for the next few hours or so and then bullishly bust through the top where it would likely try to reach 4800 to confirm the pattern and then 4400 would become resistance. This will be tough given how far up the price is above the bearish ichimoku cloud.
or more favorably for those late to the crypto party a Double Busted Triple Top - where the price will fall through the bearish cloud and find some buyers along the way to 3350-3450ish, and then shoot up to 4800 to confirm the pattern. This would help create a favorable bullish divergence to bring in more/new buyers.
I am not a professional, I've just been very interested in technical analysis as of late. Happy trading Everyone!
or more favorably for those late to the crypto party a Double Busted Triple Top - where the price will fall through the bearish cloud and find some buyers along the way to 3350-3450ish, and then shoot up to 4800 to confirm the pattern. This would help create a favorable bullish divergence to bring in more/new buyers.
I am not a professional, I've just been very interested in technical analysis as of late. Happy trading Everyone!