📈Bitcoin Next Stage 75K? / Trading setups (Updates soon)📉
Updated
BTCUSDT BTCUSD Hello dear traders.
- A few hours ago, before I left the Bitcoin analysis chart. I drew two bullish and bearish scenarios for Bitcoin.
- Despite being late for a valid entry, I still think Bitcoin will go near the $75,000 level before the price correction. However, in the current situation, Bitcoin should not go back below the pitchfork nearest line (blue line). A bearish scenario could happen sooner if Bitcoin returns below the indicated blue line.
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Note
If the price does not stabilize above the yellow line, the bearish scenario will occur earlier than the mentioned time.💥✌
Risk free level is indicated in the chart.
The first price target is about 68K dollars. The second target is around 67K dollars.🐱👤✍
Note
Look carefully at Bitcoin.
In the 4-hour period, the price was able to return to the dynamic resistance level, but at the same time, there is a lot of divergence in the current price level.🐱👤✍
Currently, Bitcoin's consolidation above the dynamic resistance level pushes the price up to the supply pressure range. Otherwise, the bearish scenario remains.
Note
The target specified in the previous analysis was achieved.💥✌
Now, with Bitcoin's strong return to above $70,000, hopes for a price rise to $75,000 have increased.
The price of Bitcoin is approaching the intersection of the 2 and 4-hour midline Bollinger, if the price crosses and stabilizes above the mentioned level, the next target of Bitcoin will be the yellow box. Otherwise, the price will likely return to the bottom of the previous area.🐱👤✍
Note
The target specified in the previous analysis was achieved.💥✌
According to the scenario of the previous analysis, after hitting the upper pitchfork level, Bitcoin returned to its previous low around the midpoint of the pitchfork.🐱👤✍
Furthermore, if Bitcoin can consolidate above the $68,600 level, there is a possibility that the price will return to the $70,000 level before further declines. Otherwise, if Bitcoin fails to consolidate above that level, as well as if it fails to break through the 2-hour and 4-hour Bollinger midline, the next price target will be the lower pitchfork level. (Also, if the price returns below the $67,000 level, the downward scenario will be activated again.)✍
The intersection of two 2-hour and 4-hour Bollinger average lines is marked in the chart, and the divergence of important indicators is also displayed.✍
Note
Bitcoin reached the first support zone according to the scenario.💥✌
If the price does not stabilize above the 2-hour Bollinger Midline, Bitcoin will go through the correction path until the bottom of the pitchfork.🐱👤✍
Note
Bitcoin pull backed to its Bollinger midline.
Follow the mentioned structure.💥✌
Trade closed: target reached
$63-62K reached.Follow my new idea to see the further analysis.
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🍀Ride this journey with us🥂
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