The fight between bulls and bears theorized in past analyzes is becoming increasingly interesting. For now, the bulls have managed to scare away the bears from the shorter timeframes. A good victory. Shall we go to the next round?
And today I decided to go back in time and show you a past analysis.
I brought this analysis to the present for a very simple reason. The lines don't lie. If you want to find points of support or resistance, just put your mind into action and make some projections, and voilà, the projections outlined are being fulfilled and the lines drawn in this analysis are currently serving as resistance. What a thing, right? See the image below.
If so, (a resistance), we can see prices testing a lower region, more precisely the 28.2K house. But this correction will only happen if prices do not stay above the 35.2K region. I believe the bulls are tired, but that is nothing to worry about at the moment. See image below!
What is worrying for now is the monthly chart, suggesting that prices are in a region of strong resistance, at 34.8K. Despite this strong resistance, we can have good news and it will be; if resistance (34.8K) is overcome, we can see prices seeking higher levels, such as the 37K region in the first stage. The second target will be at 44.9K (dream). See image below.
As mentioned above, we have a set of factors (projections) and they are:
a) Fall: We will have corrections if prices do not stay above 35.2K. Projected correction up to 28.2K range
b) Go up: Overcoming the resistance found on the monthly chart, prices could reach the long-awaited 44.9K. First target is 37K.
Oh, I was already forgetting. The ABC Pattern has not yet been discarded, after all, we need more strength from the bulls for this to happen.
Click here, because it's worth reading this graphic analysis!
Do your analysis and good business.
Be aware, if you buy, use stop loss!
See other graphical analyzes below.
And today I decided to go back in time and show you a past analysis.
I brought this analysis to the present for a very simple reason. The lines don't lie. If you want to find points of support or resistance, just put your mind into action and make some projections, and voilà, the projections outlined are being fulfilled and the lines drawn in this analysis are currently serving as resistance. What a thing, right? See the image below.
If so, (a resistance), we can see prices testing a lower region, more precisely the 28.2K house. But this correction will only happen if prices do not stay above the 35.2K region. I believe the bulls are tired, but that is nothing to worry about at the moment. See image below!
What is worrying for now is the monthly chart, suggesting that prices are in a region of strong resistance, at 34.8K. Despite this strong resistance, we can have good news and it will be; if resistance (34.8K) is overcome, we can see prices seeking higher levels, such as the 37K region in the first stage. The second target will be at 44.9K (dream). See image below.
As mentioned above, we have a set of factors (projections) and they are:
a) Fall: We will have corrections if prices do not stay above 35.2K. Projected correction up to 28.2K range
b) Go up: Overcoming the resistance found on the monthly chart, prices could reach the long-awaited 44.9K. First target is 37K.
Oh, I was already forgetting. The ABC Pattern has not yet been discarded, after all, we need more strength from the bulls for this to happen.
Click here, because it's worth reading this graphic analysis!
Do your analysis and good business.
Be aware, if you buy, use stop loss!
See other graphical analyzes below.
