#BITCOIN WEEKLY TIME FRAME TECHNICAL ANALYSIS🔔
After breaking the previous all-time high, which was $69,028 and achieving a new high of $73,773.
Currently trending above the strong support zone of $64,500 to $66,300, technically it’s a very strong support zone. Today is the weekly closing, and Bitcoin must maintain its position above the mentioned support zone.
Here we have two scenarios.
First, if this week's candle closes above the $64,500 support then in the upcoming week, we anticipate a bullish move towards the $94,500.
In the second scenario, if it does close below the support, then it is highly possible that it will drop to $38,500 to $40,000 before the halving, and that will be the last chance to buy bitcoin at a much lower price.
Here is the question: does it drop before the halving or after the halving?
So it is advisable to be prepared for this possibility, especially when accepting a drop before the halving event. This is because, historically, the market tends to shake out less experienced traders before the real bull run begins.
This chart serves as a valuable aid in making informed trade decisions and is intended solely for educational purposes.
Your insights and perspectives on the charts are highly appreciated and can be shared in the comment section.
Thank you for your contribution.
After breaking the previous all-time high, which was $69,028 and achieving a new high of $73,773.
Currently trending above the strong support zone of $64,500 to $66,300, technically it’s a very strong support zone. Today is the weekly closing, and Bitcoin must maintain its position above the mentioned support zone.
Here we have two scenarios.
First, if this week's candle closes above the $64,500 support then in the upcoming week, we anticipate a bullish move towards the $94,500.
In the second scenario, if it does close below the support, then it is highly possible that it will drop to $38,500 to $40,000 before the halving, and that will be the last chance to buy bitcoin at a much lower price.
Here is the question: does it drop before the halving or after the halving?
So it is advisable to be prepared for this possibility, especially when accepting a drop before the halving event. This is because, historically, the market tends to shake out less experienced traders before the real bull run begins.
This chart serves as a valuable aid in making informed trade decisions and is intended solely for educational purposes.
Your insights and perspectives on the charts are highly appreciated and can be shared in the comment section.
Thank you for your contribution.
Comment:
BTC
As predicted, #BTC experienced a dip and rebounded strongly. Currently, it is facing a resistance zone of $69,600 - $70,000 and struggling to break out of it. On the weekly chart, the candle made a retest of the support level with a large wick indicating a strong rejection. This suggests that we may see an all-time high break in the near future.
BTC
As predicted, #BTC experienced a dip and rebounded strongly. Currently, it is facing a resistance zone of $69,600 - $70,000 and struggling to break out of it. On the weekly chart, the candle made a retest of the support level with a large wick indicating a strong rejection. This suggests that we may see an all-time high break in the near future.
Comment:
BTC
recently faced a minor resistance area and subsequently fell back to the support zone. However, the good news is that it has been able to hold on to this support zone. It is important to monitor the closing price and be prepared for a potential break below the support zone, in which case we will need to wait for the next support zone.
Stay tuned I will keep updating.
BTC
recently faced a minor resistance area and subsequently fell back to the support zone. However, the good news is that it has been able to hold on to this support zone. It is important to monitor the closing price and be prepared for a potential break below the support zone, in which case we will need to wait for the next support zone. Stay tuned I will keep updating.
Comment:
BTC
has broken and closed below a key support zone, and has even made a retest. The market is currently experiencing a heavy dump and is expected to reach the support zone around $58,200–$59,550. Despite the strong correction, it is important to remain calm and keep an eye on the situation.
Stay tuned I will keep updating
BTC
has broken and closed below a key support zone, and has even made a retest. The market is currently experiencing a heavy dump and is expected to reach the support zone around $58,200–$59,550. Despite the strong correction, it is important to remain calm and keep an eye on the situation. Stay tuned I will keep updating
Comment:
BTC
recently bounced off a small support zone and made a major move following the FOMC news and statements. The price has now broken and closed above this zone, indicating significant buying pressure and the ability to sustain above it. We can anticipate further market movement from this point, but there are a few minor resistance levels to consider. If you bought in during the dip, it's best to hold and monitor the situation.
Stay tuned I will keep updating as always.😉
#DYOR #NFA
BTC
recently bounced off a small support zone and made a major move following the FOMC news and statements. The price has now broken and closed above this zone, indicating significant buying pressure and the ability to sustain above it. We can anticipate further market movement from this point, but there are a few minor resistance levels to consider. If you bought in during the dip, it's best to hold and monitor the situation. Stay tuned I will keep updating as always.😉
#DYOR #NFA
Comment:
BTC
has undergone a successful retest to its support level, which indicates a positive outlook for the market. As a result, it is highly probable for the cryptocurrency to rebound and surpass both minor and major resistance levels. Additionally, there is an Inverse Head and Shoulders pattern emerging in the market, further increasing the likelihood of a significant upward trend.
Stay tuned for more updates.
BTC
has undergone a successful retest to its support level, which indicates a positive outlook for the market. As a result, it is highly probable for the cryptocurrency to rebound and surpass both minor and major resistance levels. Additionally, there is an Inverse Head and Shoulders pattern emerging in the market, further increasing the likelihood of a significant upward trend. Stay tuned for more updates.
Comment:
The price of #BITCOIN has followed the anticipated bearish trend, moving lower towards the support zone before bouncing back. While there is still a possibility of a return to previous highs, the Weekly TF signals a stop hunt, and the Daily TF shows congestion. A shift in market structure towards the bullish side is crucial for a favourable outcome.
Stay tuned I will keep updating.
#DYOR #NFA
Stay tuned I will keep updating.
#DYOR #NFA
Comment:
BTC
has undergone a significant correction, which is normal in a rising market.
BTC is currently trading above the strong support zone of $64,500 to $66,300, which is a very strong support zone.
With the weekly closing today, Bitcoin needs to maintain its position above the mentioned support zone.
If this week's candle closes above $64,500, a bullish move toward $94,500 is anticipated in the upcoming week.
If it closes below the support, there's a possibility of dropping to $38,500 to $40,000.
Keep an eye on the weekly candle close.
Stay tuned
BTC
has undergone a significant correction, which is normal in a rising market. BTC is currently trading above the strong support zone of $64,500 to $66,300, which is a very strong support zone.
With the weekly closing today, Bitcoin needs to maintain its position above the mentioned support zone.
If this week's candle closes above $64,500, a bullish move toward $94,500 is anticipated in the upcoming week.
If it closes below the support, there's a possibility of dropping to $38,500 to $40,000.
Keep an eye on the weekly candle close.
Stay tuned
Comment:
Bitcoin's current movement is following a pattern that has been observed before, and it has succeeded in surpassing the resistance area. However, the price hasn't yet broken the neckline, which is important to confirm the pattern. It's possible that the price may retest the support zone and drop to $66,000 before beginning to rise again.
The weekly timeframe has undergone a significant retest, but it's not significant enough to affect the current progress. Therefore, it's highly likely that the price will continue to move higher from its current level.
The weekly timeframe has undergone a significant retest, but it's not significant enough to affect the current progress. Therefore, it's highly likely that the price will continue to move higher from its current level.
Comment:
BTC
#Bitcoin has broken above the neckline of its Head & Shoulder Pattern. It didn't retest the zone before moving higher, but it is now retesting the support zone. The Daily Market Structure looks bullish, indicating that the uptrend is expected to continue.
#DYOR
BTC
#Bitcoin has broken above the neckline of its Head & Shoulder Pattern. It didn't retest the zone before moving higher, but it is now retesting the support zone. The Daily Market Structure looks bullish, indicating that the uptrend is expected to continue. #DYOR
Comment:
BTC
#BTC is exhibiting a symmetrical triangle pattern, with consolidation currently taking place below trendline resistance. The Ichimoku cloud and the MA 100 are acting as support levels. A clear breakout of the triangle would confirm bullish momentum, while a rejection would imply the continuation of consolidation within the pattern.
Stay tuned for more updates.
BTC
#BTC is exhibiting a symmetrical triangle pattern, with consolidation currently taking place below trendline resistance. The Ichimoku cloud and the MA 100 are acting as support levels. A clear breakout of the triangle would confirm bullish momentum, while a rejection would imply the continuation of consolidation within the pattern. Stay tuned for more updates.
