NEW BITCOIN & ETHEREUM PATTERN IS ABOUT TO BREAK OUT!!! CHECK IT NOW!!!!
I want to be quickly talking about bitcoin and ethereum, because bitcoin and ethereum are rhino. Creating these continuation patterns on the one hourly candles – and i want to be talking about this continuation paradigm, because this could be for sure result in bitcoin going to be choosing a direction where it is going to be potentially heading towards the next rom. So guys. If this sounds interesting for you, dont forget to right away, smash up the like button and then i will be trying to tell you guys as soon as possible what were currently seeing here in the market. So with that of the way, let me start off with discussing the bitcoin price action, so bitcoin right now forming this downward slope resist line on the top side. Urban sloping support line looks to be breaking out anytime soon here, because yeah, we are most likely going to see a breakout here on the weekend in the coming 15 hours, because this support line and this diverse lobby resist line is going to be breaking out here. Like you can see in front of your screen here right now in the coming 15 hours, you could be as well approaches a channel that were ready. Looking at as a potential diamond pattern. Of course, like we know with diamond patterns, is that diamond pendants? Are continuation panels as well and, like you can see from of this point over here? It looks to be, of course, a perfect formation that were having here and since, of course, creating a rally towards the upside.
The chances are relatively high that this diamond pattern is as well once again going to create this continuation towards the upside from here on, but lets just approach. It like a symmetrical triangle for a second and lets, see what bitcoin needs to be doing in order to be breaking through this level. So, if youre going to be breaking through of this level, we have to be seeing, of course, on confirmation over. No one hourly cannot close outside of this resistance line and as soon as were going to do so, we could be, of course, looking for continuation towards higher levels and we could be looking forward towards bitcoin increasing a little bit in its valuation ever so slightly. But like you can see, we already got an approximately five rejections by of this zone, so its going to be important that the one air lock, unless at least is going to be closing above it and as soon as were closed one election above it we could Be retesting it as support as well an important thing to see and what you want to be already having here is an increasement in volume as soon as were going to be breaking out. So as soon as we break out of this pattern, you want to be seeing the volume spiking. If were not seeing the volume spiking, we could be seeing a fake out because of this weekend right now, the fake outs are relatively high and the chance of a fake out is also relatively high for baker.
Right now, here, if youre going to be looking at the price record of this falling, which sorry, if youre going to be looking at the surprise target of the semantical triangle and lets say, were going to be breaking out of this point. We could be looking and we could be in for an an approximately three percent increase from here on and that could be resulting in bitcoin pushing back towards the 56.3 k here. Of course, if were going to see a break down the scoopy as well and um a three percent correction that could be pulling us back towards the 52 thousand us dollars. So thats important and uh very important to know right now, as well still going to say it um. We are going to create, of course, a gap on the cme if were going to be increasing further on, so the higher were going to be pushing up on the weekend. The more significantly the pullback most likely will become on monday thats. A very, very quick thing that i want to be saying here so still want to be saying out there be cautious right now were treating the market. I will be just standing on the sidelines and well be just writing my trade to where the market is heading towards, but i will be not necessarily open a new position right now here to talk real quickly about ethereum ethereum. Is writing as well forming a very beautiful consolidation and continuation pattern? You can see.
Excuse me uh that were forming as well as symmetrical triangle here, so uh one, two three four touch points already on the top side, with one two. Three four touch points on the lower side. Even more touch points are generated on the lower side. Even so, it looks to be that were creating a very significant continuation pattern of symmetrical triangle. If were going to be breaking out of the top side, we as well have a very nice price target for you guys out there, and that is going to be in pushback towards the 3740 us dollars and thats going to be a measured move over approximately three And a half percent here that could be resulting in 128, us dollar increasement or, of course a decreasement in case, were going to be breaking the sport line. So um make sure that youre going to keep your eyes out on this important target and make sure that youre not losing your attention on ethereum and bitcoin right now. Here, of course, as soon as bitcoin is going to be breaking out for the top side of its resistance, the chances are relatively high. That ethereum is going to be following, so make sure to keep your eyes on it and, of course, guys dont forget to follow me on twitter at rover crc, because i will be dropping, of course, some more updates as soon as were breaking out of these patterns. So guys this was already through to this quick update.
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