Bitcoin is running in ascending channel from the middle of July until now. In this post, I will compare four rallies that Bitcoin has passed from 21 July until the current price. each rally has been made from two pivot points.
First, I will explain the features of four rallies.
Bitcoin Analyze ( BTCUSDT ) Timeframe Daily⏰
Rally 1:
start date: 21 July 2021
End date: 07 Sep 2021
Rally time: 49 days
Price growth: +80.76%
Rally 2:
start date: 07 Sep 2021
End date: 21 Sep 2021
Rally time: 14 days
Price reduction: -23.34%
Rally 3:
start date: 21 Sep 2021
End date: 09 Nov 2021
Rally time: 49 days
Price growth: +74.36%
Rally 4:
start date: 09 Nov 2021
End date: ❓❓
Rally time: ❓❓
Price reduction: ❓❓
Second I tried to find answers by comparing rallies and Fibonacci tools (if you look at my chart carefully, you will know how did I find responses to questions marks).
End date: 21 Nov until 04 Dec
Rally time: 14-25 days
price reduction: -24% until -21%
I am expecting that bitcoin can reverse from 55620- 52000$ at TRZ 2. reversal can happen with one of the reversal patterns such as double bottom pattern.
Note: if bitcoin losses ascending channel, we will see a bear market or range market until the end of the year.
My Suggestion: if you want to have bitcoin on your portfolio, you can buy it in one or two step for around 55600$ until 52000$.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅'like'✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
First, I will explain the features of four rallies.
Bitcoin Analyze ( BTCUSDT ) Timeframe Daily⏰
Rally 1:
start date: 21 July 2021
End date: 07 Sep 2021
Rally time: 49 days
Price growth: +80.76%
Rally 2:
start date: 07 Sep 2021
End date: 21 Sep 2021
Rally time: 14 days
Price reduction: -23.34%
Rally 3:
start date: 21 Sep 2021
End date: 09 Nov 2021
Rally time: 49 days
Price growth: +74.36%
Rally 4:
start date: 09 Nov 2021
End date: ❓❓
Rally time: ❓❓
Price reduction: ❓❓
Second I tried to find answers by comparing rallies and Fibonacci tools (if you look at my chart carefully, you will know how did I find responses to questions marks).
End date: 21 Nov until 04 Dec
Rally time: 14-25 days
price reduction: -24% until -21%
I am expecting that bitcoin can reverse from 55620- 52000$ at TRZ 2. reversal can happen with one of the reversal patterns such as double bottom pattern.
Note: if bitcoin losses ascending channel, we will see a bear market or range market until the end of the year.
My Suggestion: if you want to have bitcoin on your portfolio, you can buy it in one or two step for around 55600$ until 52000$.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅'like'✅ button 🙏😊 & Share it with your friends, Thanks, and Trade safe
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