So, congratulations to those who have made good entry in BTC. as per my previous analysis i was expecting the price up to $40,000 but the pump came in bitcoin was really insane. its a good feeling to know that big institution believing in bitcoin. anyways, moving on to my this analysis. here are few points which we need to understand now;
1. In day time frame, bitcoin is in over bought zone. hence, a correction is coming soon.
2. Psychologically $44,000 to $45,000 zone is a good resistance. if we look at the history we'll understand that this is the zone where bitcoin was accumulated a lot in the previous bull run. also it was the area of support when market was going in downtrend.
3. in 1 Hour time frame, a new pattern has reveled which is showing that slowly we are moving towards the correction. Why slowly, because this is the best way to trap opposite directions order and create panic in the market.
4. Bitcoin is going to touch $40,000 zone. that is going to be main testing to understand where we are going with bitcoin in upcoming months.
Have a safe stop loss and target.
#bitcoin #crypto #analysis
1. In day time frame, bitcoin is in over bought zone. hence, a correction is coming soon.
2. Psychologically $44,000 to $45,000 zone is a good resistance. if we look at the history we'll understand that this is the zone where bitcoin was accumulated a lot in the previous bull run. also it was the area of support when market was going in downtrend.
3. in 1 Hour time frame, a new pattern has reveled which is showing that slowly we are moving towards the correction. Why slowly, because this is the best way to trap opposite directions order and create panic in the market.
4. Bitcoin is going to touch $40,000 zone. that is going to be main testing to understand where we are going with bitcoin in upcoming months.
Have a safe stop loss and target.
#bitcoin #crypto #analysis
