Hi Traders, Investors and Speculators of the Charts 📈📉
In today's analysis, I continue discussing a fractal that played out on Bitcoin from 2018 - 2019 over a few months. Fractals can be very helpful to give an idea how the price action behaves after certain trends, which is where trend lines become especially useful in conjunction with fractal strategy. In my previous analysis on BTC, I made an update for the near term based on a fractal from 2018. Incase you missed it, here it is:
What I discussed was the key support zone that needed to hold and see candle closes ABOVE this zone, which we have. This is a bullish sign, indicating that buyers are ready to push the price higher from here.
By using the technical indicators Phoenix Ascending and Fibonacci Bollinger Bands, we can speculate the next potential target:
Next target could be $27700, the upper orange Bollinger Band :
I believe there is an important balance between trend line analysis / chart analysis, and technical indicator analysis. I find that trend analysis ( trend lines , support zone and resistance zone ) is really helpful for longer term, whilst technical indicators can be very useful for the shorter term.
_______________________
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CryptoCheck
In today's analysis, I continue discussing a fractal that played out on Bitcoin from 2018 - 2019 over a few months. Fractals can be very helpful to give an idea how the price action behaves after certain trends, which is where trend lines become especially useful in conjunction with fractal strategy. In my previous analysis on BTC, I made an update for the near term based on a fractal from 2018. Incase you missed it, here it is:
What I discussed was the key support zone that needed to hold and see candle closes ABOVE this zone, which we have. This is a bullish sign, indicating that buyers are ready to push the price higher from here.
By using the technical indicators Phoenix Ascending and Fibonacci Bollinger Bands, we can speculate the next potential target:
Next target could be $27700, the upper orange Bollinger Band :
I believe there is an important balance between trend line analysis / chart analysis, and technical indicator analysis. I find that trend analysis ( trend lines , support zone and resistance zone ) is really helpful for longer term, whilst technical indicators can be very useful for the shorter term.
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
Trade active:
BTC looking ready for a BIG move UP this week.
Comment:
This Altcoin can easily x4 from here: Check out CVX
