Bitcoin: Still Inside The Triangle

2022年10月25日

Today you can review the technical analysis idea on a 1M linear scale chart for Bitcoin (BTCUSD).

The Bitcoin price is still in a a descending wedge pattern since the all time high. Many analysts are saying it broke the wedge upwards but from review of the chart the price is still inside with a strong chance of still breaking down forming a bear flag pattern with the break down around 18.9K. If the price breaks below that range, expect the bear flag target of 4K. If the price breaks upwards out of the wedge, there may be a good chance we may see 25K price which is the top part of the parallel channel (shown in blue on the chart). Also noted in the chart is the RSI, Stoch RSI and MACD. A move is definitely coming as we are near the end of the month.

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Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #millionaireeconomics