Hello Traders and Investors, my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin💪
A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.
Furthermore you can also see that weekly market structure is bullish with Bitcoin creating higher highs and higher lows so there is no reason why Bitcoin should actually reject the previous resistance zone once again towards the downside.
Looking at the daily timeframe you can see that Bitcoin is still stuck in between support and resistance so I am now just waiting for a clear breakout towards the upside before I also then favor another bullish continuation setup.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow! My previous analysis of this asset:
Nice video:)