Chart Pattern Analysis Of Bitcoin

2023年8月1日

Last day's candle showed that it failed to breakup.
The price here is still in disordered state.
we'd better wait for more evidence to join in the market.

2023年8月2日

ノート

The price closed upon the ice line, it is a good news for buyers, it seems that the ice line is not strong enough. If today's candle stay upon ice line and even closed higher than 30100 , maybe a V-bottom will establish.

Last day's candle had a relatively high volume and created a new lower price, which means supply pressure is still high. It is most likely a temporary short position closing action.

I will still wait for more evidence to verify which side is in charge.

2023年8月3日

ノート

Nearest support is k1 at about 28700,Resistance is at about 29700.
Last two candles tried hard to closed upon ice line, but failed, which verified
a fact that supply pressure is still in charge.
If the price retest the resistance in the coming days, there will be a good opportunity to short it.
Last day's candle had an increased volume, but failed to closed below K1, which verified that the support is strong at present.If we buy here(28860-28660 area), stop loss should set at 28612.
And i will discard to buy here, and still wait for an opportunity to short it.

2023年8月5日

ノート

If we bought here, nearest price target is 29500.
I am still waiting for chances to short it,.

2023年8月8日

ノート

A series of hammer candles built a large scale potential tweezers bottom reverse pattern. If an expected price reaction candle could closed upon or near 29700 under a relatively lower volume in the coming days, the uptrend may resume.

Otherwise, the supply pressure or downtrend will most likely restore it's strength.