Taking a look at the chart performance from 22 Feb 21 where there was a deep(-21.31%) including it's ups and downs to the current price of $36,009.97.
KEYNOTES:
* The 4 blue horizontal blue lines indicates the support lines of Bitcoin and it's price respectively.
* Using a weekly timeframe and with references to its yearly chart.
* The trendline starts from 08 Nov 21 where BTC got to its high before falling down to $32772.96 on 24 Jan 2022.
* BTC to touches point 2 on the trendline on 28 March 2022 @ $47,836.98
* Touches the 3rd point on the trendline on 4th April 2022 @ $47,351.31
ANALYSIS.
* There was no retracement for the bulls to take over the trend.
* using the Fibonacci retracement to Mark point C from A - B. making points C fall between 0.5 - 0.30 { 30 - 50 retracement}. the market falls down and heading to a new of lower low to form point D. although point D is yet undefined.
* As of the time of making this analysis, Bitcoin is currently trading @ $38488.34 forming point K.
* if Bitcoin does not find a support at point K for uptrend, then the trend continuous downward to form point D at any of the support level at point D. Thereby, making point K a resistance level.
CONCLUSION.
If the brake continues from it current level @ K, Bitcoin is going down to any of the support level at point D which presents bitcoin the opportunity of testing the $30k support zone.
From there, the market will retrace. And there will be a major bull run.
* Point X, Y and Z from D are the possible bulls and bears (ups and correction) for a new targeting $70k - $100k.
#btc #bitcoin #btcusd #bitcoinprice #bitcoinnews #bitcointrading #bitcointoday
#mybestdaytrading #shortselling #buy$100ofbtc #howcryptoworks.
************************
Link below for full video
*************************
DISCLAIMER: This video is for educational purposes and not to be considered as a last resort or any financial advise. Please DYOR.
Thanks you and stay blessed 🙏❣️.
KEYNOTES:
* The 4 blue horizontal blue lines indicates the support lines of Bitcoin and it's price respectively.
* Using a weekly timeframe and with references to its yearly chart.
* The trendline starts from 08 Nov 21 where BTC got to its high before falling down to $32772.96 on 24 Jan 2022.
* BTC to touches point 2 on the trendline on 28 March 2022 @ $47,836.98
* Touches the 3rd point on the trendline on 4th April 2022 @ $47,351.31
ANALYSIS.
* There was no retracement for the bulls to take over the trend.
* using the Fibonacci retracement to Mark point C from A - B. making points C fall between 0.5 - 0.30 { 30 - 50 retracement}. the market falls down and heading to a new of lower low to form point D. although point D is yet undefined.
* As of the time of making this analysis, Bitcoin is currently trading @ $38488.34 forming point K.
* if Bitcoin does not find a support at point K for uptrend, then the trend continuous downward to form point D at any of the support level at point D. Thereby, making point K a resistance level.
CONCLUSION.
If the brake continues from it current level @ K, Bitcoin is going down to any of the support level at point D which presents bitcoin the opportunity of testing the $30k support zone.
From there, the market will retrace. And there will be a major bull run.
* Point X, Y and Z from D are the possible bulls and bears (ups and correction) for a new targeting $70k - $100k.
#btc #bitcoin #btcusd #bitcoinprice #bitcoinnews #bitcointrading #bitcointoday
#mybestdaytrading #shortselling #buy$100ofbtc #howcryptoworks.
************************
Link below for full video
*************************
DISCLAIMER: This video is for educational purposes and not to be considered as a last resort or any financial advise. Please DYOR.
Thanks you and stay blessed 🙏❣️.
