BITCOIN’s New year update using breakout and supportLets have a look on the year end performance on bitcoin. Where it wiped off the ATH formed during the recent bull run after a correction has been made close to 30K levels.
On the monthly base its a clear pull back or retracement close to 61% where a strong demand zone has found near the 42k area. We have seen a long held bearish market since Novemeber meanwhile we can expect the same bullish sentiments at this level.
Christmas showed up a good bullish momentum in the crypto space where now those gains has completely wiped out before the New Year.
Through the previous analysis I have mentioned that we have an very important resistance or supply level holding at 52k where if price visits back this area and fails to break and hold above this price level this can drop back close to the supports formed at 45k and 40k etc. You can find the previous analysis here >> traderchamp.site
On the daily timeframe I have highlighted the sell offs happened during this 52k resistance and as mentioned earlier for the third time we have seen another sell off.
traderchamp.site
This is the chart which I used to highlight the key levels of supports and resistances formed on Bitcoin’s Daily timeframe.
traderchamp.site
On H4 timeframe we can spot a very clear trend breakout on the bearish wave while I have spotted another important minor support which has been playing for Bitcoins lower timeframes for a while. We can see that price has revisited the minor support once again after the breakout formed. If this support remains stronger and helps for a bullish reversal this can play an important role on Bitcoin New Year performance.
traderchamp.site
Bitcoin formed another important structure, This ABCD pattern is very important to watch at this stage as it holds the expectations of many bitcoin holders. If this ABCD remains strong and bullish biased we will see a strong ride towards 60k.
Traderchamp
ETHEREUM - DONT IGNORE THIS CUP & HANDLE PATTERN Welcome!
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GBPUSD FORMED A FALLING WEDGE Welcome!
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BITCOIN WILL MEET THE SUPPORT AT 40K AFTER BEAR FLAG Welcome!
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SHIB IS ON A VERY IMPORTANT KEY LEVEL Welcome!
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BITCOIN - THIS PULL BACK COULD BE THE NEXT ATTEMPT FOR SELL OFFWelcome!
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GOLD - THREE TARGETS TO WATCH ON THE REVERSALWelcome!
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CHFJPY CONSOLIDATION - WAITING FOR THE BREAKOUTWelcome!
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BITCOIN - THIS HARMONIC PATTERN HINTS SOMETHING IMPORTANTWelcome!
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SHIB GOOD BUYING LEVEL IS STILL ON SIGHTWelcome!
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BITCOIN BUYING LEVEL SPOTTED ON CONTINUING BULL TRENDWelcome!
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AUDUSD - LONG TRADE PLAN ➡️ 0.72800Welcome!
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BAT WILL MAKE IT'S WAY ABOVE $2.20 NOW AFTER MAKING NEW ATHWelcome!
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SOLANA THIS BULLISH PATTERN WILL HELP TO CROSS THE $320 MARKWelcome!
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BITCOIN - BUYING LEVEL ON BULLISH TREND AND MINOR SUPPORTWelcome!
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SHIB HOLDERS SHOULD NOT IGNORE THIS PATTERNWelcome!
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GOLD PULL BACK ON SUPPORT CAN REVERSE TO FOLLOW $1900+ RANGEWelcome!
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Traders Disclaimer: Non of our analysis or trade setups which is shared here on trading view is a trading advice. As we keep on weekly updates with our predictions and expectations. We may take them as a trades only if trade setups meets the required criteria ( Confirmations ). We will never make a move or look back if trade setup invalidates with price action or future economical movements. Understanding the markets is the key behind all success stories. So never miscalculate under estimate anything which is out of your bounds. Take them at your own risk as trading is highly risky and you may loss your investments.
Mohamed Khalid Rafi ,
Senior Financial Analyst,
Profitlio Trading.
RIPPLE IS HIGHLY BULLISH ON ITS DAILY AND WEEKLY BASEWelcome to Aureate Invest.
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BTCUSD - BEST BUY ZONE FOR LONG PROJECTION TOWARDS 100KWelcome to Aureate Invest.
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🚀 BITCOIN TOWARDS 123K EXPLAINED 🚀Welcome to Aureate Invest.
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ETHEREUM CUP& HANDLE STRUCTURE IS A PROMISING MOVE TOWARDS $6400Welcome to Aureate Invest.
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DOGE - W FORMATION IS HIGHLY BULLISH TOWARDS $0.74Welcome to Aureate Invest.
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USDJPY HARMONIC PATTERN ON RESISTANCE Welcome to Aureate Invest.
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