Still, we can't receive great news from the market, and some of the important Countries that they are working in the field of Cryptocurrency put Rules or Boycott it or they are bothering Exchanges+ Miners (Countries like China+UK+India+Iran+.) = as result, I think that we will lose heavy support ( 316200$ until 30000$ ( Support + Cluster of Fibs+ the lower lines of Descending Triangles) soon. First, I tried to find the time of Point D (we can find Point D at TRZ2 or TRZ3), Also we will have Bullish Gartley Harmonic Pattern at Point D. now we have to find Point D of Descending Triangle. patterns: Bitcoin is running on Descending Triangle (Even we saw fake break last night, Middle line of ascending channel & 78.6% Fib & TRZ1 was able to hold our triangle). Submit News Write For Us Advertise About us Latest News. Bitcoin Analyze ( BTCUSDT ) Timeframe 4h ⏰ Location🌊: about the location of Bitcoin, please read my post with the topic '' Bitcoin Analyze (Two Descending Triangle)!!!''.just I can say if the price breaks our ascending Channel (to down), I will be more sure about the end of microwave 4 of main wave C❗️( Probably we will lose it). Bitcoin is stuck in the middle of a descending wedge inside which it is ranging, with the monthly close suggesting more downside is to come. Buyers have the opportunity to take a step ahead to make favorable profit in STX.Hi, as I said in my last post, probably I was able to find the end of microwave 4 of main wave C at 36600$.
In the context of bullish signals, MACD also displayed a bullish crossover into the negative region last night. RSI could lead to further price rally after dipping into the oversold region. The daily RSI is going to touch the 50 mark after crossing over the RSI-based moving line. In addition to technical analysis, bulls should be aware of the overall market sentiment. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In 53 of cases, the price makes a support pullback on the falling wedge’s resistance line. In 63 of cases, the pattern’s price objective is achieved when the resistance line is broken.
In 55 of cases, a falling wedge is a reversal pattern. Bitcoin - USD BTCUSDT +337.40 +1.68: Bitcoin / Tether LTCUSD: 69.7899-1.5702-2.20: Litecoin - USD LTCUSDT: 69.2028-2.2002-3. Meanwhile Bitcoin seems to be in a descending wedge. These patterns are important because it’s helpful to indicate the continuation of a bullish or bearish market. The descending/falling wedge The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. Bitcoin has been in a descending wedge since May 16th. The rising wedge is a bearish indicator and can be found in either an uptrend or a downtrend. The two converging lines depict the shape of a triangle. Above this bullish barrier, Stacks Coin is expected to climb 15%. Triangle patterns refer to chart formations comprised of multiple candlesticks enclosed within two converging support and resistance lines. Today, STX price is at the mid-band of the BB indicator. On the daily price chart, the Bollinger Bands indicator is likely to push STX price higher. Traders can observe more than average buying in altcoin by trading volume, which will play a vital role in a healthy ascending trend. The current market sentiment surrounding Bitcoin is influenced by forming a descending wedge pattern, which is often seen as a bearish signal. Trading volume increased by 350% to $143 million overnight. This was a tough wedge to draw, but if you use the volume you can see that it decrease as the pattern forms, and when it breaks out, it should do so with high volume. As you can see on the last analysis on this 4 hour log chart on Binance BTC/USD (link below), had you used the indicators I spoke about, you would of seen the crash from 58k happening. Heavy buying pressure could be seen in the last few hours. A descending wedge is a bullish pattern as the probability of it breaking upwards is high.
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