The chart represents Bitcoin's price movement with Gann angles, Fibonacci retracement levels, and vertical time cycle lines. Here's a breakdown of the analysis:
Key Observations: Gann Angles: The chart has multiple Gann fan lines drawn, indicating possible support and resistance zones. The red and yellow lines intersect at several key points, highlighting significant price-action zones.
Fibonacci Levels: The chart overlays Fibonacci retracement levels (0.0, 0.5, 0.75, etc.). If sustained, the price currently sits above the 0.5 level (~$78,476), suggesting a bullish sentiment.
Price Movement: Bitcoin's price seems to be consolidating at nearly $102,000 after a recent upward trend. The downward blue arrow indicates a potential correction or testing of support in the near term.
Time Cycles: Vertical yellow lines indicate time cycle events. The next significant date is marked as "30-31 Jan 2025," suggesting potential volatility or a trend change around this date.
RSI Indicator: The Relative Strength Index (RSI) at the bottom shows the asset is in a neutral zone (~53.31). It suggests neither overbought nor oversold conditions, indicating room for movement in either direction.
Analysis:
Short-Term: The price tests a significant resistance zone of nearly $102,500. Failure to break this level could lead to a pullback toward lower Gann fan lines (~$97,000 or $92,000). Watch for RSI changes—if it moves above 70, it may signal overbought conditions.
Mid-Term: A sustained break above $105,000 could trigger a rally toward the following significant resistance at ~$112,000. The convergence of Gann angles and Fibonacci levels around $85,000-$90,000 suggests strong support in case of a correction.
Key Dates: The period from January 30 to 31, 2025, appears critical. Historical cycles and price action in similar verticals could suggest increased volatility.
تم فتح الصفقة
The expected downtrend is ongoing, but I believe it's a fake! Based on my GANN methods calculations, we are still in a bullish momentum.
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لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.