COMPARING BITCOIN CHART PATTERNS 2021 & 2022 #bitcoin #defi #nft
Technical Analysis:
1. Bitcoin ranged in the channel from May 2021 till July 2021 before it broke out & rallied to new all time high ($68,721) in November 10, 2021.
2. Bitcoin is repeating chart pattern similar to (1).
Bitcoin has been ranging within the current channel since January 2022.
Fundamental Analysis:
1. The fundamental factors were more favorable in 2021 compare to the current uncertainties (imminent interest rate hikes, Russia-Ukraine war, high inflation, hawkish fed tone, intending Fed quantitative tightening etc).
Which direction is the possible breakout???
A repeat of 2021 or the opposite?
Kindly share your opinion in the comment.
1. Bitcoin ranged in the channel from May 2021 till July 2021 before it broke out & rallied to new all time high ($68,721) in November 10, 2021.
2. Bitcoin is repeating chart pattern similar to (1).
Bitcoin has been ranging within the current channel since January 2022.
Fundamental Analysis:
1. The fundamental factors were more favorable in 2021 compare to the current uncertainties (imminent interest rate hikes, Russia-Ukraine war, high inflation, hawkish fed tone, intending Fed quantitative tightening etc).
Which direction is the possible breakout???
A repeat of 2021 or the opposite?
Kindly share your opinion in the comment.
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