Chart Pattern Analysis Of Bitcoin

From K1 to K3, it is a three soldiers stalled pattern,
K3 close upon the downtrend line.
The supply pressure is temporarily low here.
If the following candles successfully retest the downtrend line,
It will be a good place to buy in.


Buy-63188/Stop-62188/Target-72000

Comment:

After a three soldiers stalled pattern,
K2 tested the uptrend line under low volume,
It seems that K3 will break up.
If the bull force couldn’t take the chance to close upon K2,
Or even close below K2,
The risk will sharply increase here.

Buy-63355/Stop-62355/Target-72000

Comment:

K2 tested the downtrend line under sharply increase volume.
It is not a successful test,
Perhaps the following candles will test the line for a second time.

Buy-62088/Stop-61088/Target-72000

Comment:

It seems that the previous short-term downtrend had recover its strength at K1.
And K2 close below the downtrend line under high volume,
It verified that the downtrend regain its power here.
If the short-term want to expand,
K3 must close below K2 or the supply pressure keeps increasing at K3.

It is also possible that it’s just a bullish large scale consolidation process here.
But it needs more signals to verify that.

Buy-60666/Stop-59666/Target-72000