We see a strong falling wedge in the chart. The wedge is a continuation pattern in technical analysis, where the falling one is bullish. The move down is accompanied with high volume, the move is strong. It already passed the Fibonacci level at 61,8, that also was a around a 3600 support level. Next support zone can be at 3500 or even 3300, if it passes 3300 we...
Are we going to 322? Flags are mostly halfway the trend, if pattern works out it wil go to 322.
This is an analysis of the rally BTC made this year. It is for educational purposes. I'm curious if you guys see the same patterns as I do, or maybe you see different ones.
It looks like the market is in indecision a little bit. RSI is coming down, ADX is low and +DI also. If it breaks up resistance it may continue to 4500, if it breaks down it may end up around 4000. The two doji's also confirm indecision.