Hi
Bitcoin has created a narrow range in recent days. In general, due to the existing narrow range, I do not expect a change in the trend in this price range. To change the trend, based on Waikoff's theory and the range areas that have already changed trends, I expect a larger range area.
It seems BTC is squeezing and creating a bearish triangle pattern above the support line. We have to wait and see if this hypothesis will be confirmed or not.
Bitcoin has created a narrow range in recent days. In general, due to the existing narrow range, I do not expect a change in the trend in this price range. To change the trend, based on Waikoff's theory and the range areas that have already changed trends, I expect a larger range area.
It seems BTC is squeezing and creating a bearish triangle pattern above the support line. We have to wait and see if this hypothesis will be confirmed or not.
Trade closed: target reached
BTC breaks down the triangle
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For more of my on-chain analyses, visit my CryptoQuant profile:
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
cryptoquant.com/profile/u/CryptoOnchain?tab=quicktake
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.