Bitcoin's indecision triangle will be broken in couple days
已更新
Let's see the movements of BTC/USD in different time intervals;
Bitcoin daily
We start with daily charts. The ongoing upward trend in general has dropped to a decline at the end of June. Until the uplift that started in early August which looks like a ledder. The critical point here is that if this rally will break the downtrend from June? It may look clearer on short-term graphics.
Bitcoin h4
Now let's move on to the 4-hour chart. Here the trend and supports with purple color are specified. The downtrend, which started on August 6, should be watched carefully, the price has tried to break this resistance 6 times but failed. The 11445 support is another point to note here.
Bitcoin h1
Also in this hourly chart, the purple downtrend trend resistance has been tested repeatedly and is working solidly. Likewise, 11445 support below has worked for 3 times.
As a result, BTC seems that the value is in a triangle right now and it has different buy/sell signals for different time intervals. Most probabky the triangle will be broken on August 11. We may wait to see which way the value will break triangle and play with that move. Due to triangle is strong, we can expect the reaction of breaking the triangle will be strong & steep as well.
Bitcoin daily
We start with daily charts. The ongoing upward trend in general has dropped to a decline at the end of June. Until the uplift that started in early August which looks like a ledder. The critical point here is that if this rally will break the downtrend from June? It may look clearer on short-term graphics.
Bitcoin h4
Now let's move on to the 4-hour chart. Here the trend and supports with purple color are specified. The downtrend, which started on August 6, should be watched carefully, the price has tried to break this resistance 6 times but failed. The 11445 support is another point to note here.
Bitcoin h1
Also in this hourly chart, the purple downtrend trend resistance has been tested repeatedly and is working solidly. Likewise, 11445 support below has worked for 3 times.
As a result, BTC seems that the value is in a triangle right now and it has different buy/sell signals for different time intervals. Most probabky the triangle will be broken on August 11. We may wait to see which way the value will break triangle and play with that move. Due to triangle is strong, we can expect the reaction of breaking the triangle will be strong & steep as well.
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Price of BTC went above the triangle but than fallen back into the triangle again with a steep fall. We are coming to the end of triangle, we may see some steep movements again in Bitcoin
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