Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Bitcoin is about to retest an extremely strong previous weekly support zone which is now turned resistance exactly at the $32,000 area.
You can also see that Bitcoin just recently created and confirmed an inverted head and shoulders so I am now just waiting for a retest of the $32,000 resistance and then a retracement back to retest the neckline of the inverted head and shoulders at the $25,000 level.
On the daily timeframe you can see that Bitcoin has been trading in an accumulation range for the past couple of days, I am now just waiting for a break above the upper resistance followed by a retest before I then do expect the next pump towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Bitcoin is about to retest an extremely strong previous weekly support zone which is now turned resistance exactly at the $32,000 area.
You can also see that Bitcoin just recently created and confirmed an inverted head and shoulders so I am now just waiting for a retest of the $32,000 resistance and then a retracement back to retest the neckline of the inverted head and shoulders at the $25,000 level.
On the daily timeframe you can see that Bitcoin has been trading in an accumulation range for the past couple of days, I am now just waiting for a break above the upper resistance followed by a retest before I then do expect the next pump towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
