Good morning everyone and welcome to my daily analysis of Bitcoin. Today I pulled up the weekly and zoomed out much farther than I typically do. I just wanted to check look at a few things so I changed the chart to logarithmic to see what I can see. Zooming out can give you just as much perspective as a zoomed in 4hr chart. There are reasons to be happy with what we see on the chart but I also see reasons to be bearish looking at the present situation. Lets see what the chart says...
Until we can break through this resistance that has been plaguing us for over 2 years. I think the push to 10400 the other day had the bulls excited that we may escape the big triangle we are stuck inside of. But alas... It was not meant to be at this time anyways. Those that managed to sell above 10k are the lucky ones as that dump really came on fast. Talk about a Bart pattern. That is Bitcoin for you. If you dont like the direction just wait 5 minutes.
We can see that the candles are still respecting the big picture. The resistance is still holding. The more time passes the more likely we will break up from this pattern. The resistance is causing a slow consolidation and an eventual break up from this is bound to happen. It likely wont be tomorrow but I am watching close. Especially with a fresh halving a few weeks behind us...
We can also see that even though we sank after we kissed 10400 we can still take comfort in the fact that we are still above the weekly cloud. We need to close this weekly candle above the weekly cloud. This may instill confidence in a currently shaky market. Sentiment is mixed from the messages I received over the past few days. But if we can manage to close a confirmation candle above the weekly cloud I believe it would be a bullish move for sure. The more time that passes the smaller the weekly cloud is getting and that is because of the way the cloud lags and the previous price action. So an escape from the weekly cloud is likely unless we sink below 8k anytime soon.
I rarely share zoomed out and Im pretty sure this is the first time I have shared a chart with the logarithmic setting on. But I simply did this to give us a little perspective. I think this would be a perfect opportunity to break up out of this pesky 2 year old + pattern that has imprisoned the candles so long. If we cannot break up from this now we will likely see some red candles very soon and remain inside the pattern indefinitely. There are no guarantees in crypto so watch your butts. You can get burned easily if you let emotions make your decisions so resort to logic, not panic. Cmon Bulls... Lets send these candles to the moon... Someone call Elon! WTFDIK???
you writing so many things but your analysis are BULSHIT !!! I am unfllow now ....
UnknownUnicorn4304403
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@amin1980na, Good bye. Nobody is asking you to read my analysis. Where the fk are your charts? Oh ya thats right... You cant read a chart so you dont post any. Dont talk trash about my analysis. They are free. If you dont like it move on down the fkn road and dont let the door hit you in the back on the way out. I see you have almost as many followers as I do.... Oh wait Im wrong... I have over 3000 followers and people pay me to share my analysis . How much do people pay you for your opinions?? I am willing to bet nobody pays you a dime. Please unfollow me you unappreciative noob.
UnknownUnicorn4304403
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@amin1980na, All ZERO of your followers agree with me. LOL. It must suck to have to rely on others to make a chart. But you have proven that you will get angry at someone for sharing a free analysis. You have the mindset of a 4 year old.
UnknownUnicorn4304403
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@amin1980na, You have had an account for 2 years on here... I havent had my account for 2 years. I have been here half the time you have and I have 3000 times more followers than you do. That says a lot. Now take your pathetic azz off my profile and Shut the fk up
amin1980na
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@HeisenbergBTC,yes you are right because don’t want to cheat people and ask them to pay me ! you have only 26 like because your analysis are bulshit you must know it ! Doesn’t matter how many followers you grab and always think about analysis to pay amateur to you ! and always have both side and so many charts ! I am in crypto market for more than 6 years and have nothing to say !
I just write you 2 lines and you wrote 3 long reply .... hahaaaa ! Why you so angry...$$$$$
@amin1980na, so quit assuming things and go back into your hole
UnknownUnicorn4304403
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@amin1980na, how many likes do you have again? Oh ya... You have zero... That is because you dont know how to read a chart and do proper analysis. It must be embarrassing. All I had to do was click on your profile and I could see you were a novice. No charts posted. No followers. Nothing but you. Pathetic
Sepehreghdami
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respect
UnknownUnicorn4304403
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@Sepehreghdami, Thank you my friend. I appreciate the kind word