Search This Blog

Saturday, December 3, 2022

BTCcan remain in this range for a month

BTCcan remain in this range for a month

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

Bitcoin is in a value area in the current range and is forming some patterns. Considering that we are at the beginning of the pattern, It is not possible to accurately identify the pattern. We are currently exploring possible patterns.
One of the current probable patterns is the descending triangle pattern. If this pattern is confirmed in the future, it makes 2 predictions about the future of Bitcoin more likely:
1- Breakdown usually happens in this pattern
2- Due to the current size, Bitcoin will probably remain in this price range for a little more than a month

Via TradingView Ideas

No comments: