THE COUNTDOWN TO THE NEXT BULL RUN!!
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This bearish trend can be encapsulated within a bearish channel on the 4-hour timeframe.
A bullish breakout of this channel is the condition for continued growth.
If a decline occurs, it will be temporary and will find support at one of the following levels: 58595.50, 56819.25-57372.40, or 55382.60-55876.20.
Subsequent growth targets for BITCOIN:
Target 1: 60094.00
Target 2: 62731.30
Target 3: 64638.50
Target 4: 70564.40-71976.70"
...
"#BITCOIN Analysis / 1-hour Timeframe
Beyond the support levels and growth conditions I mentioned for the 4-hour timeframe, pay attention to this structure on the 1-hour timeframe as well.
The head and shoulders channel gives us two important support levels:
The midline and the channel bottom.
When the trend is bullish, these two supports can halt a decline and initiate a growth phase.
The simplest condition for growth is an upward breakout of the channel on the 1-hour timeframe.
Naturally, if growth is confirmed based on this pattern, the stop-loss should be placed below the previous low before the breakout.
Note: For now, it has shown a positive reaction to the midline of this channel."
This bearish trend can be encapsulated within a bearish channel on the 4-hour timeframe.
A bullish breakout of this channel is the condition for continued growth.
If a decline occurs, it will be temporary and will find support at one of the following levels: 58595.50, 56819.25-57372.40, or 55382.60-55876.20.
Subsequent growth targets for BITCOIN:
Target 1: 60094.00
Target 2: 62731.30
Target 3: 64638.50
Target 4: 70564.40-71976.70"
...
"#BITCOIN Analysis / 1-hour Timeframe
Beyond the support levels and growth conditions I mentioned for the 4-hour timeframe, pay attention to this structure on the 1-hour timeframe as well.
The head and shoulders channel gives us two important support levels:
The midline and the channel bottom.
When the trend is bullish, these two supports can halt a decline and initiate a growth phase.
The simplest condition for growth is an upward breakout of the channel on the 1-hour timeframe.
Naturally, if growth is confirmed based on this pattern, the stop-loss should be placed below the previous low before the breakout.
Note: For now, it has shown a positive reaction to the midline of this channel."
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