On this graph we use PitchFork, arrow, Trendline and rectangle. With Red and blue color. (The red is for Bearish and Blue is for Bullish).
For bullish BTC are trying to break the $7.6k to $7.8k to reach the $8k. However he didn't make it. Still lots of corrections and issue happened on Crypto world, Example US Huobi is halt the exchange, The Frozen Account of Cointiger, Removing some exchange in China and project that is prone to scam.
Earlier bitcoin doing some pump and dumps and lots of small TA's are liquidated due to that strategy. So be careful! As of now BTC price are want to reach the above of $7.2k to have a stable price but sad to say we're still waiting on it.
But that's fine! We saw a bullish pattern after end of 2020! I guess this is good for Holiday season to buy! This is the best gift of BTC! Why? on this May of 2020 there will be a huge adoption of Bitcoin by doing halving and lots of countries will use the power of blockchain technology.
Our opinion is be patient! Do some research and read read read!
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. The trader must be able to manage risk.
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Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user-to-user on the peer-to-peer bitcoin network without the need for intermediaries.