Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin recently perfectly retested and already rejected a quite nice previous weekly support zone which was now turned resistance at the $30.000 level.
You can also see that there is a next weekly support zone coming in at the $25.000 area, so I am now just waiting for Bitcoin to retest this next demand level before I then do expect another weekly rally towards the upside.
On the daily timeframe you can see that over the past couple of days Bitcoin has been forming a very obvious falling wedge formation which is normally a bullish (continuation) pattern, so I am now just waiting for a breakout above resistance trendline and then I do expect another daily push to retest the $30.000 area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin recently perfectly retested and already rejected a quite nice previous weekly support zone which was now turned resistance at the $30.000 level.
You can also see that there is a next weekly support zone coming in at the $25.000 area, so I am now just waiting for Bitcoin to retest this next demand level before I then do expect another weekly rally towards the upside.
On the daily timeframe you can see that over the past couple of days Bitcoin has been forming a very obvious falling wedge formation which is normally a bullish (continuation) pattern, so I am now just waiting for a breakout above resistance trendline and then I do expect another daily push to retest the $30.000 area.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
