Bitcoin will continue its journey towards 110k, Read the caption
Hello everyone, read this and support me like comment share this to your friends.
There you go with this chart that I have made and it provides a 1-hour analysis of Bitcoin showing price movement within a clear ascending channel. Key technical levels, including support, potential targets, and stop-loss (SL) areas, are highlighted. Here's a breakdown of the chart with geopolitical and political influences considered:
Chart Analysis:
1. Trend Channel:
Bitcoin is trading within an ascending channel (blue), indicating a bullish structure.
The lower boundary acts as support, while the upper boundary represents resistance.
2. Support and Resistance:
Support Zone: Around 107214, this level provides a safety net for bullish momentum.
Resistance zone: It is after the target.
Target: Positioned near 110500, suggesting a potential breakout above the ascending channel.
3. Stop-Loss Area:
Marked in red below the support level. This zone represents a critical area to limit downside risks for traders if the bullish scenario fails.
4. Projection:
A breakout above the current price trend could push Bitcoin to the target area.
Alternatively, failure to maintain support could lead to a pullback, triggering the SL area.
Impact of Trump’s Oath Ceremony and Geopolitical Factors:
1. Trump’s Oath Ceremony:
Market Volatility: If the ceremony involves significant economic or regulatory announcements related to cryptocurrencies, it could heavily influence Bitcoin prices.
Potential Policies: Pro-crypto policies or endorsements could fuel bullish momentum, driving Bitcoin toward or above the 110,500 target. Conversely, unfavorable regulations could cause a dip.
2. Geopolitical Tensions:
Bitcoin as a Safe Haven: Heightened geopolitical conflicts or wars may increase demand for decentralized assets like Bitcoin. Such uncertainty would likely bolster Bitcoin’s price trajectory within the ascending channel.
Global Economic Conditions: Factors like inflation, currency instability, or banking crises may further drive Bitcoin adoption, aligning with the bullish projection.
3. Regulatory Landscape:
Upcoming regulatory discussions or enforcement actions globally could affect Bitcoin sentiment, either reinforcing the support level or triggering a pullback.
Conclusion:
This chart outlines a favorable bullish scenario for Bitcoin. However, external factors like political events and global instability could either amplify its upward trajectory toward the target or challenge the bullish structure by increasing market uncertainty. Investors should monitor these events closely while adhering to risk management (e.g. stop loss)
Key levels; Buy 107214
target: 110500
SL: 105487
Note; This is for educational purposes not the trading advice.
Kindly support me.
There you go with this chart that I have made and it provides a 1-hour analysis of Bitcoin showing price movement within a clear ascending channel. Key technical levels, including support, potential targets, and stop-loss (SL) areas, are highlighted. Here's a breakdown of the chart with geopolitical and political influences considered:
Chart Analysis:
1. Trend Channel:
Bitcoin is trading within an ascending channel (blue), indicating a bullish structure.
The lower boundary acts as support, while the upper boundary represents resistance.
2. Support and Resistance:
Support Zone: Around 107214, this level provides a safety net for bullish momentum.
Resistance zone: It is after the target.
Target: Positioned near 110500, suggesting a potential breakout above the ascending channel.
3. Stop-Loss Area:
Marked in red below the support level. This zone represents a critical area to limit downside risks for traders if the bullish scenario fails.
4. Projection:
A breakout above the current price trend could push Bitcoin to the target area.
Alternatively, failure to maintain support could lead to a pullback, triggering the SL area.
Impact of Trump’s Oath Ceremony and Geopolitical Factors:
1. Trump’s Oath Ceremony:
Market Volatility: If the ceremony involves significant economic or regulatory announcements related to cryptocurrencies, it could heavily influence Bitcoin prices.
Potential Policies: Pro-crypto policies or endorsements could fuel bullish momentum, driving Bitcoin toward or above the 110,500 target. Conversely, unfavorable regulations could cause a dip.
2. Geopolitical Tensions:
Bitcoin as a Safe Haven: Heightened geopolitical conflicts or wars may increase demand for decentralized assets like Bitcoin. Such uncertainty would likely bolster Bitcoin’s price trajectory within the ascending channel.
Global Economic Conditions: Factors like inflation, currency instability, or banking crises may further drive Bitcoin adoption, aligning with the bullish projection.
3. Regulatory Landscape:
Upcoming regulatory discussions or enforcement actions globally could affect Bitcoin sentiment, either reinforcing the support level or triggering a pullback.
Conclusion:
This chart outlines a favorable bullish scenario for Bitcoin. However, external factors like political events and global instability could either amplify its upward trajectory toward the target or challenge the bullish structure by increasing market uncertainty. Investors should monitor these events closely while adhering to risk management (e.g. stop loss)
Key levels; Buy 107214
target: 110500
SL: 105487
Note; This is for educational purposes not the trading advice.
Kindly support me.
Trade active
trade active at 107214
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.