Based on the full chart of Bitcoin, every 4 years constitutes a recurring movement. This analysis shows the beginning of the launch of Bitcoin and also explains the period we are currently in. The beginning progress N4 of the Bitcoin will be in the middle of the four years, meaning that next August.
What can we see now?
The distance between all the red lines is approximately 1480 days. In the mid area we have reached the failer zone & end (Bear Market), and starting from the second middle, the other conflict and boom period begins (Bull Run). We are now heading to the middle area, but it is still in the beginning, so it is likely we see the price fall to the area 19 another times , and this will be during next three months, so we will be ready.
-failed Confluence at 26.2k region for EMAs and supply areas. weak purchase area, reasonable to see us work down there. Then a move back up to 20K till end of summer, followed by a look to push higher into the fall.
What can we see now?
The distance between all the red lines is approximately 1480 days. In the mid area we have reached the failer zone & end (Bear Market), and starting from the second middle, the other conflict and boom period begins (Bull Run). We are now heading to the middle area, but it is still in the beginning, so it is likely we see the price fall to the area 19 another times , and this will be during next three months, so we will be ready.
-failed Confluence at 26.2k region for EMAs and supply areas. weak purchase area, reasonable to see us work down there. Then a move back up to 20K till end of summer, followed by a look to push higher into the fall.
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Hi Everyone, BTC has seen a strong bearish candle and here are some technical analysis for you to understand what happened from a technical perspective. There is a trend line supporting the market to go up since January 2023
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As you have seen in the previous analysis
Wyckoff's theory happened in Bitcoin and it has experienced a decline in price up to the base of the start of its movement, i.e. the $26,000 range.
Also, it has broken down its daily ascending channel, which is the trend line that the buyers were hoping for
The current mentality regarding Bitcoin is to sell and any increase in the price can be a good opportunity for sellers
Thank you for sharing your opinion with me
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Wyckoff's theory happened in Bitcoin and it has experienced a decline in price up to the base of the start of its movement, i.e. the $26,000 range.
Also, it has broken down its daily ascending channel, which is the trend line that the buyers were hoping for
The current mentality regarding Bitcoin is to sell and any increase in the price can be a good opportunity for sellers
Thank you for sharing your opinion with me
___________________________________________
Trade active:
In summary, Bitcoin's journey remains as thrilling as ever. With the current price point being a critical juncture, the market could see significant movements in either direction. Investors are advised to stay vigilant and consider both the opportunities and risks in this dynamic environment.
