Bitcoin - Last chance to buy below 20k! (lifetime opportunity)
- Congratulations to the bulls for this successful start of the bull market! It's really a pleasure to watch these candles.
- Bitcoin may give you the last chance to buy below the 20k level, so I hope you are going to take this once-in-a-lifetime opportunity! You can buy on the spot market or leverage long on futures.
- It's still possible to retest the previous breakout level of the trendline, which is around 18,300. So this will be your dream entry, and trust me when I say this!
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- So, why do I believe bitcoin has reached its bottom? From the technical perspective, there are multiple indications, and I will tell you all the arguments.
- The halving is coming, and usually bitcoin finds incredible strength before and after the halving event. This is statistical data based on historical performance.
- Bitcoin is breaking out of the falling wedge, bullish reversal pattern on the weekly chart and also is breaking out of the major trendline established in November 2021 with a successfull retest. Basically, Bitcoin is above all major trendlines on the linear scale.
- We have a bullish divergence on the weekly RSI, that has been confirmed recently. All altcoins show huge signs of trend reversal, not just Bitcoin.
- As per my Elliott Wave analysis, the downtrend has been completed as an ABC ZigZag (5-3-5 structure). You can see my Elliott Wave count on the chart. We are starting a brand new impulse wave to the upside!
- On the way up, there is a lot of resistance. Resistance 1 is almost certainly going to be reached. The next resistance is the 0.618 FIB + 0.618 FIB LOG and, of course, the unfilled GAPS, POC, and the previous all-time high.
- Thank you, and for more ideas, hit "Like" and "Follow"!
