Bitcoin's Shocking Pullback: A Hidden Opportunity for Major Gain
Updated
Made new High inside of Weekly and Daily and now broke back inside of old high and making a new series of Lower Highs and Lower Lows. This is not a longterm of the current picture of BTC. Major Trend is Bullish but we could experience some pull back in the market where Larger amounts of money can now enter again.
Trend Analysis:
Down Trending Market: The market continues to show a downtrend, with lower highs and lower lows.
New Highs and Lows: The chart highlights a recent new high within the weekly and daily range, followed by a breakdown back inside the old high, indicating a new series of lower highs and lower lows.
Key Insights:
The annotation mentions that this is not a long-term picture of Bitcoin (BTC). The major trend is bullish, but the market is currently experiencing a pullback. This pullback could be an opportunity for larger amounts of money to re-enter the market.
Key Levels:
New Daily High: Marked at 73,929.
4HR LQZ / TP 1 / Reversal: Marked at 70,229.
1HR LQZ / TP 1 / Reversal: Marked at 53,606.
4HR LQZ / TP 2 / Reversal: Marked at 48,308.
Daily LQZ: Marked at 38,398.
Chart Patterns:
Yellow Trend Lines: Show the descending channel the price is following, reinforcing the downtrend.
Labels: Indicate specific market conditions and key points like "Down Trending Market" and the breakdown of the new high inside weekly and daily ranges.
Current Price:
Current Price Level: Shown as 60,585 with a decrease (-0.14%).
This enhanced analysis provides a more comprehensive view, indicating both the current downtrend and the potential for a bullish re-entry. The annotations also clarify that while the immediate trend is bearish, the overall long-term trend for Bitcoin remains bullish.
Trend Analysis:
Down Trending Market: The market continues to show a downtrend, with lower highs and lower lows.
New Highs and Lows: The chart highlights a recent new high within the weekly and daily range, followed by a breakdown back inside the old high, indicating a new series of lower highs and lower lows.
Key Insights:
The annotation mentions that this is not a long-term picture of Bitcoin (BTC). The major trend is bullish, but the market is currently experiencing a pullback. This pullback could be an opportunity for larger amounts of money to re-enter the market.
Key Levels:
New Daily High: Marked at 73,929.
4HR LQZ / TP 1 / Reversal: Marked at 70,229.
1HR LQZ / TP 1 / Reversal: Marked at 53,606.
4HR LQZ / TP 2 / Reversal: Marked at 48,308.
Daily LQZ: Marked at 38,398.
Chart Patterns:
Yellow Trend Lines: Show the descending channel the price is following, reinforcing the downtrend.
Labels: Indicate specific market conditions and key points like "Down Trending Market" and the breakdown of the new high inside weekly and daily ranges.
Current Price:
Current Price Level: Shown as 60,585 with a decrease (-0.14%).
This enhanced analysis provides a more comprehensive view, indicating both the current downtrend and the potential for a bullish re-entry. The annotations also clarify that while the immediate trend is bearish, the overall long-term trend for Bitcoin remains bullish.
Trade closed: target reached
Target One being the 1HR LQZ that we marked was blown through! Now Target Two has been barley missed by $1000 USD as Bitcoin reached $49,000 Last night bringing it to a total of (-10.00% on the day.)
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Improve your overall trading confidence and performance
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