Bitcoin -> Maybe A Little Overextended
Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Bitcoin is approaching a massive previous weekly support zone excatly at the 332,000 area which is now turned extremely strong resistance.
However you can also see that weekly market structure is massively bullish, in my opinion we already saw the bottom of the bear market, so I am now just waiting for a short term retracement before then I do expect the next weekly rally towards the upside.
On the daily timeframe you can see that Bitcoin just recently broke out of the symmetrical triangle as predicted in my last analysis - I am now just waiting for a retest of the previous resistance area at 228,500 and then I do expect more continuation towards the upside from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/BTCUSD/QzgZLpSN-Bitcoin-Symmetrical-Triangle-Break/
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Bitcoin is approaching a massive previous weekly support zone excatly at the 332,000 area which is now turned extremely strong resistance.
However you can also see that weekly market structure is massively bullish, in my opinion we already saw the bottom of the bear market, so I am now just waiting for a short term retracement before then I do expect the next weekly rally towards the upside.
On the daily timeframe you can see that Bitcoin just recently broke out of the symmetrical triangle as predicted in my last analysis - I am now just waiting for a retest of the previous resistance area at 228,500 and then I do expect more continuation towards the upside from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
https://www.tradingview.com/chart/BTCUSD/QzgZLpSN-Bitcoin-Symmetrical-Triangle-Break/
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