Hello, traders and investors!🫶 I'm glad to welcome You to my page!
Today I wanna share with You a possible key to understanding Bitcoin's movements. In the world of finance, there are often questions about why asset prices behave the way they do. Some seem chaotic and unpredictable, but there is always a certain logic behind them, the main thing is to want to see it. And that's what we'll do together now.😊
Let's take a look at the weekly Bitcoin chart👀
Every trader can see something of their own. The most striking thing is the ascending trendline under which triangles are depicted. Each triangle is a cycle. In it, I discovered an interesting pattern, that I want to share with You.
I have highlighted the pattern on a white background on the left side of the chart.📊
Even before the formation of the triangle, the price forms an accumulation zone (orange 🟠 color), then goes through a distribution phase (red 🔴 color), then there is a 100% growth 🟢, after which the price corrects by 30%, and then comes the final phase - parabolic growth. This is where the bull market ends. Then comes the bear time, and the price forms a descending triangle trend for several years.
In addition to what I have depicted on the chart, it is important to consider such factors as:
▪️Fundamental analysis: Understanding economic, political, and social factors influencing the market helps predict its movement. This may include data on interest rates, inflation, unemployment, geopolitical conflicts, and other events. ▪️Technical analysis: Analyzing charts and statistical data helps identify patterns and trends in price behavior. This includes using various indicators, chart patterns, and support and resistance levels. ▪️Market sentiment: Understanding the moods and emotions of traders also plays an important role. Market sentiment can be optimistic, pessimistic, or neutral, and this affects trading decisions. ▪️Manipulations: Sometimes prices may be subject to manipulations by large players or institutional investors. Understanding their strategies and tactics can help determine possible price directions.
Understanding the key factors that determine market movements is an important tool for successful trading. Whether you are a novice or an experienced trader, continuous learning and analysis will help improve your results. And remember, the market is always full of opportunities if you can recognize them. Happy trading!
Sincerely yours, Kateryna
Trade active
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Time to time^ keep an eye on this chart 🫶
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I see several possible scenarios: 📌Scenario 1: The price will rise to 63,000+ and test the descending trendline, then go back down to the lower part of the wedge. 📌Scenario 2: The price will rise to 63,000+ and test the descending trendline, then start a consolidation process (this will be an excellent signal for growth). 📌Scenario 3: The price will rise to 63,000+ and test the descending trendline, then sharply drop to around 62,000.
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65,700 is possible, but be cautious! ‼Fake breakouts are possible, as was recently seen. I highlighted in pink how it could happen again.
📌For the market to enter a bullish phase, we need a breakout of the resistance line and consolidation above it - preferably in the accumulation zone. Then, yes, we can talk about a change in sentiment.
What will actually happen - we'll see soon, stay tuned. Cheers.🥰
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Possible levels are: 61,100; if it manages to hold and bounce off this level, it's a good sign. If the price will continue falling, the support level will be 59,800.
I love the way you found hidden patterns. It’s actually the best way to be profitable. The actual patterns that are detected are usually smart money created so traders can follow them in order to trap them.
I see several possible scenarios: 📌Scenario 1: The price will rise to 63,000+ and test the descending trendline, then go back down to the lower part of the wedge. 📌Scenario 2: The price will rise to 63,000+ and test the descending trendline, then start a consolidation process (this will be an excellent signal for growth). 📌Scenario 3: The price will rise to 63,000+ and test the descending trendline, then sharply drop to around 62,000.
nabiladel88
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nice chart so still some correction to 52000!
RocketBomb
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@nabiladel88 thanks for feedback and stay tuned 🫶🏻