2h time frame
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(1)Head and Shoulders
On the left chart, Bitcoin made a potential HS as our previous analysis. Currently Bitcoin broke the neckline at 26378 and is going to retest it, if get rejection at 26378 again and broke below 25990, Bitcoin will finish the retest of HS structure, and target is 25270.
(2) Falling wedge
On the right chart, Bitcoin is creating a potential wedge, which could be regarded as the continuation structure of the pump wave(24853~27485). Bitcoin might make a lower low at 25800 to reach the wedge bottom again, where is also the Fibonacci retracement 0.382. Therefore, we can keep an eye on that range to open long, if Bitcoin get rid of this falling wedge, target is 27484~27827 first.
-
(1)Head and Shoulders
On the left chart, Bitcoin made a potential HS as our previous analysis. Currently Bitcoin broke the neckline at 26378 and is going to retest it, if get rejection at 26378 again and broke below 25990, Bitcoin will finish the retest of HS structure, and target is 25270.
(2) Falling wedge
On the right chart, Bitcoin is creating a potential wedge, which could be regarded as the continuation structure of the pump wave(24853~27485). Bitcoin might make a lower low at 25800 to reach the wedge bottom again, where is also the Fibonacci retracement 0.382. Therefore, we can keep an eye on that range to open long, if Bitcoin get rid of this falling wedge, target is 27484~27827 first.
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