Bitcoin is not in a downtrend yet
Updated
Read the description carefully:
Before you read the description we must say that we have no bias towards any symbol and we only publish what the chart shows us.
If the green range is maintained, it is possible to make a new high, but it is really difficult, but not impossible! For this, the green range should be maintained.
If the green area is maintained, a new Bitcoin rally will begin in September or October.
In the upper regions, there are liquidity pools that, if collected, will provide the necessary fuel to move towards the lower regions.
An important support that can stop the correction that is going to happen is the $11,000-$12,000 area.
Bitcoin is bullish until the $24,749 area has not been broken with a candle body on the daily time frame.
This is a long-term analysis, you should not fomo.
What will be the violation of this analysis? A heavy fall in the coming days and the loss of the green area!
Before you read the description we must say that we have no bias towards any symbol and we only publish what the chart shows us.
If the green range is maintained, it is possible to make a new high, but it is really difficult, but not impossible! For this, the green range should be maintained.
If the green area is maintained, a new Bitcoin rally will begin in September or October.
In the upper regions, there are liquidity pools that, if collected, will provide the necessary fuel to move towards the lower regions.
An important support that can stop the correction that is going to happen is the $11,000-$12,000 area.
Bitcoin is bullish until the $24,749 area has not been broken with a candle body on the daily time frame.
This is a long-term analysis, you should not fomo.
What will be the violation of this analysis? A heavy fall in the coming days and the loss of the green area!
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I have already mentioned the strength of the green range. By hitting this area, it grew by about 9%.Note that the resistance of 25,650-25,550 is a very tough and strong resistance and we may see downward movements from this area for a few weeks, but some altcoins are very bullish.
This image is zoomed from the previous analysis and the time frame is 12 hours
Comment
When everyone was cheering for Bitcoin under $14,000 and a heavy fall had occurred, we announced that Bitcoin might hit a higher high.After hitting the specified area, it grew by about 14%.
We expect this bullish trend to continue.
So, in the next few weeks, look for buy/long positions, not sell/short positions
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Bitcoin is on the way to this analysis! When it had fallen sharply, the idea of a strong comeback was far from expected for everyone! We were the first to announce this move!
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