Bitcoin analysis on weekly, daily, four-hour time frame
I will start with the above time so that you can fully understand the market trend.
Weekly time frame
If you read my previous analysis, you definitely knew about this drop and now you are in profit. Except for the reasons I mentioned in the analysis, we had a clear divergence in several oscillators in the weekly time, which clearly shows that Bitcoin wants to fall. Anyway…
Bitcoin is in a very important range in this time frame. The moving averages of 9 and 18, with which we identify the price trend, in the weekly time frame of Bitcoin, are close to each other but do not cross. Where I drew the black line in the picture, if it is lost, we will go for lower targets without a doubt
In any case, this area should not be missed, it was the price floor of the recent fall of Bitcoin (25166), which penetrated the previously formed fvg. If it hits this fvg again, it will be considered the used level and we will definitely go to a lower target.
If we consider the last price trend in the weekly time frame, and if this important level that I mentioned is lost, we will see that the price is in the premium area and tends to come to the discount. So, it should have a correction up to the Fibo limits of 0.5 and 0.618 at least. Now these levels fall on the prices of 23856 and 21924, and if it goes down to 20499 and 19107
The reason why so many analysts say level 21 and... is because it is a sensitive place. In general, my opinion is that if 25 thousand dollars are lost, 21 thousand is definitely the next option. But God forbid, 21 will also be lost
Daily time frame
In the daily time frame, the moving average situation shows that the situation is completely bearish, the cross of 18 on 9 and the continuation of the price trend below the moving average lines is proof of this.
We may have price increases up to 27,000 dollars and 28,000 dollars again. But don't be fooled because the beat will fall again. So if you reach those prices, use them to get a sell position.
From the classical point of view, this issue can be called PULLBACK to the broken trend line. From Smart Money's point of view, the EQL problem and the issue that when an equal ceiling or floor is formed, the price happens to go below the floor or above the ceiling to attract more liquidity. That's why the probability of falling more is about 90 percent!
The time frame is four hours
The 4-hour time frame, like the daily time frame, is completely negative and is trying to collect sell-stop liquidity. It is interesting to know that this whole recent fall in the price of Bitcoin is one of the famous setups from the ICT point of view.
I want to say that if you were a classical trader with divergence and if you were a smart money trader with Stop Stop Hunt, you could recognize this drop. In general, it doesn't matter what style you use, the important thing is to be accurate
Now, on the account, we have a Sell position on Bitcoin, which by entering from this point, taking into account a loss limit of 8.35% which is on the price of 28174 and a profit limit of 26.57% which is on the price of 19094, we have a trade with a risk to reward of about 3.18 .
If you reach target 1, I will give you an update analysis. But it should be in your watch list that if there is a sharp drop, you can stop using it and move your target to the lower levels I mentioned. Of course, on the condition of saving profit!
Weekly time frame
If you read my previous analysis, you definitely knew about this drop and now you are in profit. Except for the reasons I mentioned in the analysis, we had a clear divergence in several oscillators in the weekly time, which clearly shows that Bitcoin wants to fall. Anyway…
Bitcoin is in a very important range in this time frame. The moving averages of 9 and 18, with which we identify the price trend, in the weekly time frame of Bitcoin, are close to each other but do not cross. Where I drew the black line in the picture, if it is lost, we will go for lower targets without a doubt
In any case, this area should not be missed, it was the price floor of the recent fall of Bitcoin (25166), which penetrated the previously formed fvg. If it hits this fvg again, it will be considered the used level and we will definitely go to a lower target.
If we consider the last price trend in the weekly time frame, and if this important level that I mentioned is lost, we will see that the price is in the premium area and tends to come to the discount. So, it should have a correction up to the Fibo limits of 0.5 and 0.618 at least. Now these levels fall on the prices of 23856 and 21924, and if it goes down to 20499 and 19107
The reason why so many analysts say level 21 and... is because it is a sensitive place. In general, my opinion is that if 25 thousand dollars are lost, 21 thousand is definitely the next option. But God forbid, 21 will also be lost
Daily time frame
In the daily time frame, the moving average situation shows that the situation is completely bearish, the cross of 18 on 9 and the continuation of the price trend below the moving average lines is proof of this.
We may have price increases up to 27,000 dollars and 28,000 dollars again. But don't be fooled because the beat will fall again. So if you reach those prices, use them to get a sell position.
From the classical point of view, this issue can be called PULLBACK to the broken trend line. From Smart Money's point of view, the EQL problem and the issue that when an equal ceiling or floor is formed, the price happens to go below the floor or above the ceiling to attract more liquidity. That's why the probability of falling more is about 90 percent!
The time frame is four hours
The 4-hour time frame, like the daily time frame, is completely negative and is trying to collect sell-stop liquidity. It is interesting to know that this whole recent fall in the price of Bitcoin is one of the famous setups from the ICT point of view.
I want to say that if you were a classical trader with divergence and if you were a smart money trader with Stop Stop Hunt, you could recognize this drop. In general, it doesn't matter what style you use, the important thing is to be accurate
Now, on the account, we have a Sell position on Bitcoin, which by entering from this point, taking into account a loss limit of 8.35% which is on the price of 28174 and a profit limit of 26.57% which is on the price of 19094, we have a trade with a risk to reward of about 3.18 .
If you reach target 1, I will give you an update analysis. But it should be in your watch list that if there is a sharp drop, you can stop using it and move your target to the lower levels I mentioned. Of course, on the condition of saving profit!