Bitcoin falls below short-term convergence triangle

 

BTCUSDt

Bitcoin falls below short-term convergence triangle

BTCUSD 比特币跌破短周期收敛三角形态

● Weekly

As shown in the figure, from the low of 3782 in March 2020 to the high of 69,000 in November 2021, draw the [Fibonacci sequence] and the current price is about 0.236. And it has stayed at this position for about 21 weeks since June 2022. Obviously, the market believes that the 0.236 position of the [Fibonacci sequence] is the price support for this bear market.

周图

如图，从2020年3月的低点3782到2021年11月高点69000，绘制【费波纳契数列】现在价格大约是0.236左右。且从2022年6月至今已经停留在这位置21周左右，显然市场认为【费波纳契数列】的0.236位置是这波熊市的价格支撑。

● Daily

Although the price has stood above the MA30 on October 22, it is still below the MA90, obviously there is still huge pressure above. And as shown in the (large) triangle convergence pattern, the price will still oscillate within the triangle convergence pattern range in the near future.

日图

虽然价格已经在10月22日站到均线MA30之上，但仍在均线MA90之下，显然上方仍有巨大压力。且如图的(大)三角收敛形态，近期内价格仍会在三角收敛形态区间内震荡。

● 4 Hours

Earlier, the price had fallen below the triangle convergence pattern(orange), and the lowest price is 20048, but the price rebounded immediately and it was clear that there was buyer support below. If the price continues to fallen, pay attention to whether the 20000 integer can be support .

4小时图

稍早价格已经跌破三角收敛形态(橙色)，影线下方最低来到20048，但价格立即反弹显然下方有买方支撑。若空方持续进攻关注20000整数是否能守住。

● 1 Hour

The price fell below the convergence pattern, and the 20,000 integer support below is still strong. For day trader operations, it is recommended to buy low and sell high against the trend between 20000-20400. If the price falls below the 20,000 integer, the next support is around 19,600.

1小时图

价格跌破收敛形态，下方20000整数支撑仍强劲。日内操作建议在20000-20400之间逆势低买高卖。若价格跌破20000整数，下一个关注支撑在19600左右。

Update: Nov 03. 2022

原始4K图档链接：

Original 4K image file link: https://www.tradingview.com/x/JbUxJHWg/

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