Bitcoin technical analysis chart
Setting aside all the indicators, because i felt they were cluttering up my chart, i wanted to do something based purely off of resistance levels and trend lines.
And i know its kind of hard to see but this is the 4hour chart. In the daily you can see a perfect flag pattern forming and thats were i first set my lines and then zoomed in to this and made them a little more accurate. I was hoping for another day of consolidation but it looks like the price for bitcoin is being heavily squeazed in this upper mid 2700 range.
Zoomimg in a bit to the 1 hour time frame you can see just how much squeezing is being done.
Im looking for a break higher to test the highs of the coin thanks to segwit and bip91 lock in.
Based on what you guys see whats your analysis of the charts?
Good charting analysis , i hope it breaks out on the upside of the wedge, and we might be off to the races !
I really need to get in to a news feed for bitcoin so i can be on the ehdge of good news break outs or bad news sell off thats the only part im missing
There's plenty of those around if you search on the net. But you have to subscribe to a lot of them , some charge small yearly fee too.
Yeah ive notied that just gotta find the ones worth paying i guess. The more i look in to other markets the more i think i want to focus on crypto currency
Good idea, it's one of the only markets that is not heavily manipulated. It is a free market.
Yet lol its coming its less complex then markets like futures and forex
Time to wait and see lol
Very good analysis friend.
Thank man i appreciate that just wish i could capitalize on it lol
Bro download photoscape its a free photo editor that I use for my analysis editing after I screenshot
Hell yeah i ve been wondering how some guys be drawing on their charts
Those images look like you are taking a camera pic of a screen.
Are you on windows? Do you know you can copy the entire screen image with the "prt sc" key (print screen) which is usually along the top row of your keyboard. Then you can paste that image into any editor including Paint. No more glare from the glass.
Thanks man i am i do most of my posting on steemit on my phone so its just been easier to take a picture butbgetting a screenshot would be so much vetter, thanks for your advice ill try that on my next post