Bitcoin Analysis

Bitcoin Analysis

BitCoin -Analysis

 
Educational purpose - How patterns and trendlines combine together
 
 
Bitcoin --- 5 and 15 mins showing 2 different distinct patterns.
Basically I came across 5 min chart where the distinct H&S was visible and I went on charting and calculated the rough target of the drop in case it breaks under the neckline. The target came around 7.5K handle roughly.
 
Thereafter I was testing the 15 mins time frame and spotted a possible hidden Bull flag formation. For it to be concrete - I needed the base of the flag to be respected and it coincided with the target of the neckline break on the 5 min H&S it was depicting.
A little placement of trendlines into a formation and had the view of the Bull Flag and with that the whole possible playout of the upcoming move on the Bitcoin going forward on short term.
 
What amazed me was the fact that the Bitcoin even on smaller time frames was forming patterns so rapidly (I had been seeing and sharing my views in terms of pattern plays on it for the past few days - Starting with the Big Bear Pennant while we were to 11-12K and a break downside was looming with preferred target to 5.5 to 55.5.8k. That break did happen and the target almost was done with 5.9XX been posted)
Coming to the point on the 5 & the 15 mins charts - Need I say the final outcome was breath taking and now we likely to hit back 85XX-8600 marker- we are to those zones as I write as you can see in the chart below.
Bitcoin 15 min - current
 
What you see below is trendline placement to form patterns and marking your zones and points to place trades and trading the direction on shorter term frames - Though final outcome is nothing less than been a Grandeur Play..
 
 
The following was done right around the NY Close.
bitcoin - 5 mins - The spotting of the H&S and the break target towards 7.5K
 
 
Bitcoin 15 mins - Hidden pattern where if the lower zone can be held out can possible forma  Bull Flag Formation and it did so accordingly.
The first chart which states Current is the modified extension of this same chart  - Since its a smaller time frame a little twitch here and there is often required to polish the edges.
 
https://i.imgur.com/LSwBkbC.png


Bitcoin 15 min - current




What you see below is trendline placement to form patterns and marking your zones and points to place trades and trading the direction on shorter term frames - Though final outcome is nothing less than been a Grandeur Play.



The following was done right around the NY Close.


https://i.imgur.com/oQYV1gr.png

bitcoin - 5 mins - The spotting of the H&S and the break target towards 7,500

Bitcoin 15 mins - Hidden pattern where if the lower zone can be held out can possible forma Bull Flag Formation and it did so accordingly.

The first chart which states Current is the modified extension of this same chart -
 
Bitcoin 5 min - Its amazing how even a 5 min time frame can grab pip runs - unlike anything I have seen elsewhere..
 
Bitcoin 15 min - Did a little change but the same concept - we likely on break of the bull flag zone..