Welcome back everyone, $BTC is at it again and we may see some big gains ahead of us. I've compiled Bitcoin weekly trend analysis and technical analysis. The yellow lines represent high volume node(HVN) point of control(POC) from the weekly chart, aka prices which may act as support/resistance. The white lines represent trend indicators, prices where we have seen significant action in the past. $8,736 came from the weekly, and the rest of the white lines are trend indicators from the daily chart. A daily close below $8,530.01 or $8,438.35 may indicate downward movement. A weekly close above $8,736, which as already rejected once, would be idea for the bulls. I know there's a lot going on here, I'll break it down.
Here is our $BTCUSD weekly chart, where we get our $8,736 line and our yellow POC's from the volume indicator.
Here are our local trend lines on the daily, stacked on top of our weekly values.
Lastly, we arrive at our masterpiece, watch these levels carefully and manage your risk appropriately!
Disclaimer: This is NOT trading advice! These are merely my opinions that I have posted for educational purposes only. I hope you all kill it, but I am not responsible for any financial losses. Thanks for reading!
Disclaimer: This is NOT trading advice! These are merely my opinions that I have posted for educational purposes only. I hope you all kill it, but I am not responsible for any financial losses. Thanks for reading!