Bitcoin Analyze (Festival of 🔴Resistances🔴 and 🟢Supports🟢)🎪
Over the past two months, Bitcoin has been watching a Festival of 🔴Resistances🔴and 🟢Supports🟢.
Another point is that in the last 6-8 months, Bitcoin has become more dependent on parallel financial markets; this can be both good and bad.
Positive point: The world has accepted Bitcoin as registered capital, and It respects Bitcoin.
Negative point: It may no longer have the charm of previous years, and we will see fewer surprises in the market.
In the past hours, the DXY index was able to break an important support zone, and this caused the financial markets to breathe new life. And the digital currency market benefited from this failure.
Also, if we look carefully at the Bitcoin chart in the 12-hour time frame, we can see that Bitcoin is in a sensitive area; the meaning of sensitive area is that Bitcoin is located near the trend lines and the resistance area, and from another direction, Bitcoin has been able to It creates an Inverted Head and Shoulders Pattern (which seems to have all the factors of a standard pattern) and also if we look at the candles of these 2-3 days, we see that the Rising Three Method continuation pattern creates the right shoulder of the Inverted Head and Shoulders Pattern and this is a good sign. And there is hope to break the lines of trend and resistance zone ahead.
I have tried to draw for you in my chart the path that Bitcoin can take in the next few days.
My personal opinion is to wait 7 hours to confirm the Rising Three Method continuation pattern.
❗️Note❗️: If the Rising Three Method pattern is not well-formed within the next 7 hours, we can expect Bitcoin to fall again in the coming days, and the Inverted Head and Shoulders Pattern pattern will fail.
Bitcoin Analyze ( BTCUSDT ), Timeframe 12H⏰.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Another point is that in the last 6-8 months, Bitcoin has become more dependent on parallel financial markets; this can be both good and bad.
Positive point: The world has accepted Bitcoin as registered capital, and It respects Bitcoin.
Negative point: It may no longer have the charm of previous years, and we will see fewer surprises in the market.
In the past hours, the DXY index was able to break an important support zone, and this caused the financial markets to breathe new life. And the digital currency market benefited from this failure.
Also, if we look carefully at the Bitcoin chart in the 12-hour time frame, we can see that Bitcoin is in a sensitive area; the meaning of sensitive area is that Bitcoin is located near the trend lines and the resistance area, and from another direction, Bitcoin has been able to It creates an Inverted Head and Shoulders Pattern (which seems to have all the factors of a standard pattern) and also if we look at the candles of these 2-3 days, we see that the Rising Three Method continuation pattern creates the right shoulder of the Inverted Head and Shoulders Pattern and this is a good sign. And there is hope to break the lines of trend and resistance zone ahead.
I have tried to draw for you in my chart the path that Bitcoin can take in the next few days.
My personal opinion is to wait 7 hours to confirm the Rising Three Method continuation pattern.
❗️Note❗️: If the Rising Three Method pattern is not well-formed within the next 7 hours, we can expect Bitcoin to fall again in the coming days, and the Inverted Head and Shoulders Pattern pattern will fail.
Bitcoin Analyze ( BTCUSDT ), Timeframe 12H⏰.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
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