#BTC : Block out the noise.
We're far from finished! Each dip presents a new opportunity.
You FOMO when the market's green, but turn sceptical when it's red. That strategy won't cut it.
Bitcoin Monthly Analysis Update
Chart Overview:
- Channel Analysis: Bitcoin is in a long-term ascending channel, showing a bullish trend with strong support and resistance.
- Historical Patterns:
- 2016-2018: 60 bars (420 days),
- 2020-2021: 34 bars (238 days),
- Current Position: Trading at $66,993.6 nearing upper channel resistance with a target of $115k to $150k.
Key Levels:
- Support:
- $51,682.
- $43,285. (High Liquidity Untested Territory)
- Resistance:
- $66,993.6
- $73,000
Future Projections:
- High Liquidity Untested Territory: Retest around $43,210.7 could be a strong buy.
- Bullish Scenario: Breaking current resistance targets $115,000 - $150,000.
- Bearish Scenario: Failure to break $70k resistance may lead to correction towards support levels in the high liquidity zone,
48K to $60k. (Will update as the time goes and more candles are printed), less likely scenario but possible. Am I scared or selling? NO! I am holding BTC and Alts.
Market Sentiment: Volume increase during last bull run suggests bullish sentiment, but traders should be ready for volatility.
Conclusion: Bitcoin remains bullish within the ascending channel. Monitor key levels to capitalize on market movements.
DYOR, NFA 🚀
#Crypto
What do you think?
We're far from finished! Each dip presents a new opportunity.
You FOMO when the market's green, but turn sceptical when it's red. That strategy won't cut it.
Bitcoin Monthly Analysis Update
Chart Overview:
- Channel Analysis: Bitcoin is in a long-term ascending channel, showing a bullish trend with strong support and resistance.
- Historical Patterns:
- 2016-2018: 60 bars (420 days),
- 2020-2021: 34 bars (238 days),
- Current Position: Trading at $66,993.6 nearing upper channel resistance with a target of $115k to $150k.
Key Levels:
- Support:
- $51,682.
- $43,285. (High Liquidity Untested Territory)
- Resistance:
- $66,993.6
- $73,000
Future Projections:
- High Liquidity Untested Territory: Retest around $43,210.7 could be a strong buy.
- Bullish Scenario: Breaking current resistance targets $115,000 - $150,000.
- Bearish Scenario: Failure to break $70k resistance may lead to correction towards support levels in the high liquidity zone,
48K to $60k. (Will update as the time goes and more candles are printed), less likely scenario but possible. Am I scared or selling? NO! I am holding BTC and Alts.Market Sentiment: Volume increase during last bull run suggests bullish sentiment, but traders should be ready for volatility.
Conclusion: Bitcoin remains bullish within the ascending channel. Monitor key levels to capitalize on market movements.
DYOR, NFA 🚀
#Crypto
What do you think?
Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
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.
Daily Signals:- telegram.me/thecryptorphic
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Coincatch:- bit.ly/15000USDTBonus
BLOFIN - bit.ly/Cryptorphic
Binance: bit.ly/cryptorphic1000
ELITES: bit.ly/Join_elite
Related publications
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.