Bitcoin / Tetherتم تحديثه Bitcoin clean chart explanation.
Hello guys, welcome back.
today I'm planning to share my analysis on bitcoin, lets see step by step what has happened so far and then we can predict what might happen.
please keep in mind, its not a financial advice, we are just trying to find a good insight on price action, I strongly suggest to keep calm and not fomo specially in these days, be very careful and always have a risk management for your trades.
Here, you can see that we had this down trend from 14 Apr till 21 Jul, this big correction started as price tried to reach for higher highs but showed weakness everytime.
at the end of this downtrend, we had two important support and resistance level which made us this beautiful price accumulation.
as you can see as price broke this level, we had a ride toward 53k resistance zone in which we got rejected from and from there, we came back straight to support zone.
by break of 53k support zone, trend continued to reach previous high and also make a new ATH, and then another sell started which caused the price crash to 53k support zone :
by break of 53k support zone, we went straight down to 40k, now some might say its a market manipulation or anything like that, but the thing is its still meaningful in price action, so from now on we can expect two things;
the last time price reached 40k, it was with a huge candle ( pretty meaningless ) and priced bounced off right away, we certainly did break the 53k support, but we are not sure if we are done with retesting the 40k, so price has 2 places to visit A) 53k resistance Zone - B) 40k support zone.
so be prepared for both of them !
also, the price action on 40k zone showed so much bull strength, this means there is a very low chance of price falling below 40k.
what I personally expect is something like this :
Don't forget to like and subscribe for more updates.
Let me know what you think in the comment below.
Good luck ;)
today I'm planning to share my analysis on bitcoin, lets see step by step what has happened so far and then we can predict what might happen.
please keep in mind, its not a financial advice, we are just trying to find a good insight on price action, I strongly suggest to keep calm and not fomo specially in these days, be very careful and always have a risk management for your trades.
Here, you can see that we had this down trend from 14 Apr till 21 Jul, this big correction started as price tried to reach for higher highs but showed weakness everytime.
at the end of this downtrend, we had two important support and resistance level which made us this beautiful price accumulation.
as you can see as price broke this level, we had a ride toward 53k resistance zone in which we got rejected from and from there, we came back straight to support zone.
by break of 53k support zone, trend continued to reach previous high and also make a new ATH, and then another sell started which caused the price crash to 53k support zone :
by break of 53k support zone, we went straight down to 40k, now some might say its a market manipulation or anything like that, but the thing is its still meaningful in price action, so from now on we can expect two things;
the last time price reached 40k, it was with a huge candle ( pretty meaningless ) and priced bounced off right away, we certainly did break the 53k support, but we are not sure if we are done with retesting the 40k, so price has 2 places to visit A) 53k resistance Zone - B) 40k support zone.
so be prepared for both of them !
also, the price action on 40k zone showed so much bull strength, this means there is a very low chance of price falling below 40k.
what I personally expect is something like this :
Don't forget to like and subscribe for more updates.
Let me know what you think in the comment below.
Good luck ;)
ملاحظة
if you got free money, you can DCA, put buy orders on different levels such as 40k 43k and etc. ( just an idea )
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إخلاء المسؤولية
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.