Get ready! BTC Bullrun starts within the next 18 Days
Hello,
im trying to keep the analysis short and simple.
In my analysis im using the:
Pay attention on the 3 RED arrows:
As you can see, the red arrows are pointing at the long term support line.
im trying to keep the analysis short and simple.
In my analysis im using the:
- Fibonacci Channel (PINK Arrows -> connection points)
- Fibonacci Retracement ( GREEN Arrows -> connection points)
- Volume (Second Chart)
Pay attention on the 3 RED arrows:
As you can see, the red arrows are pointing at the long term support line.
Comentarios:
THIRD CHART:
So what is my final opinion?
1. Scenario (Green arrow):
Bitcoin breaks in the next days the 0.618 resistance (at $7616) with high volume.
2. Scenario (Yellow arrow):
Bitcoin dips one last time to ~$7150-$7200 and bounces from there with high volume and breaks the 0.618 resistance at $7616.
Looking at the volume.. there is still some room left.
Same as in the yellow triangle
So what is my final opinion?
1. Scenario (Green arrow):
Bitcoin breaks in the next days the 0.618 resistance (at $7616) with high volume.
2. Scenario (Yellow arrow):
Bitcoin dips one last time to ~$7150-$7200 and bounces from there with high volume and breaks the 0.618 resistance at $7616.
Looking at the volume.. there is still some room left.
Same as in the yellow triangle
As you can see.. the long term RED line.. is still acting as a strong support.
Back in the Beartrend 2018- april 2019, the Fibonacci level 0.786 ($4340) did act as a resistance.
Now, in the current Beartrend, the Fibonacci level 0.618 ($7616) is acting as a resistance.
In both beartrends, the RED support line and both resistance lines, were forming triangles.
VOLUME:
Pay attention on the volume. Its decreasing, and there is still some space left.