Previous analysis:
Looks like a possible fractal in play. The current wedge on the right, is a very steep one, so not a typical one. But then i remembered again, we had something like this 2 years ago. That is the one on the left. There is a big difference though, in 2018 price dropped from 11.700 to 7300 and then made the wedge . Now it's at a different stage, which normally is a big difference!
Just wanted to show it nonetheless, because it's pretty similar. Below is another wedge from 3 months ago, also some similarities. Both actually show we don't see a big dump, but more sideways action.
This time also that green support broke, which is a difference as well. Target of wedge was not reached completely (6500), but close. For the rest, everything below the blue resistance line is very similar. It could still be like a whale algo at play here.
Anyway, it's quite simple, as long as the blue line doesn't break, this fractal is in play. At the moment that level is around 7250. So i would not give this fractal too much value, but obviously something to keep in mind for the coming hours.
I will try to make a normal analysis later today, but not sure if i can find the time. Because of everything going on past week or 2 (staying in this range), i need to do more research on alts and some other potential signs, to find clues of what might be going on here. For now, think the 7250ish is key level and on the low side the 6950ish.
Don't forget to like if you appreciate this :)
Previous analysis
Looks like a possible fractal in play. The current wedge on the right, is a very steep one, so not a typical one. But then i remembered again, we had something like this 2 years ago. That is the one on the left. There is a big difference though, in 2018 price dropped from 11.700 to 7300 and then made the wedge . Now it's at a different stage, which normally is a big difference!
Just wanted to show it nonetheless, because it's pretty similar. Below is another wedge from 3 months ago, also some similarities. Both actually show we don't see a big dump, but more sideways action.
This time also that green support broke, which is a difference as well. Target of wedge was not reached completely (6500), but close. For the rest, everything below the blue resistance line is very similar. It could still be like a whale algo at play here.
Anyway, it's quite simple, as long as the blue line doesn't break, this fractal is in play. At the moment that level is around 7250. So i would not give this fractal too much value, but obviously something to keep in mind for the coming hours.
I will try to make a normal analysis later today, but not sure if i can find the time. Because of everything going on past week or 2 (staying in this range), i need to do more research on alts and some other potential signs, to find clues of what might be going on here. For now, think the 7250ish is key level and on the low side the 6950ish.
Don't forget to like if you appreciate this :)
Previous analysis
