Hello friends,
There are those who think that a price goes straight up, but you have seen it never goes straight. They think a correction is like letting $1000 fall through a hole every single day.
The money is made in investments by investing for long periods of time. If you are a shitcoin trader go back where you belong!
Technical Analysis Section:
Bitcoin started a new downtrend in 15 Nov 2021. Bitcoin’s price began going through corrections. Again, Bitcoin turned lower in 3 Dec 2021.
A Possible scenario is shown in the chart. Both cycles (cycle- 1, cycle-2) did a retracement above the 0.618 fib. bitcoin looking bullish above 51k (BTC is going to keep going up). At present, you know what to look for!
Long Term Analysis (Ascending triangle pattern)
Ascending triangle patterns are bullish. This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows.
Upper Horizontal (flat): trend line: It forms the Resistance and generally have at-least two points (more points are better).
Lower Ascending (rising): trend line: It forms the Support and have at least two points (more points are better).
Base: The value of base is used to keep the minimum target amount.
As you know, prices reflecting the demand (supply and demand) in the market.
supply < Demand = Ascending Triangle
supply = demand = Symmetrical Patterns
Supply > demand = Descending Triangle
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I'm so confident
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