Bitcoin Consolidation Leaning Towards The Bulls - 3 Pattern Sign

20 בינו׳ 2022

We know we are at a crossroad and everybody is wondering what the conclusion will be; Bear (red) or Bull (green).

Since the beginning of this year, I am of the view that Bitcoin will break upward giving us a small relief rally or "price bounce" as I call it.
This would push prices up before any additional bear action takes place.

Now, let's look at 3 bullish signals on the 4H timeframe:

1) V Bottom Pattern:
This pattern forms at lows or support levels before a reversal.

2) Falling Wedge Pattern:
This is the pattern we looked at yesterday, today we have a bullish breakout confirmation.

3) We have a strong bullish candle currently that pushed the RSI above 50 with prices closing above EMA10 and EMA21.

These are just three... We will look at it closer on the 1H timeframe next.

Thank you for reading.

Namaste.