Bitcoin On The Weekly Timeframe (Support Levels Dynamics)
How does Bitcoin interacts with different support levels on the weekly timeframe?
How has been Bitcoin performing as it hits support on the way down ever since April 2021's All-Time High?
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Let's look at Bitcoin's weekly support levels dynamics.
We start on the rise that peaked April 2021.
Resistance levels become support and vice versa as prices fluctuate.
Notice the Jan. 2021 support level...
On the way down, this support level produces a bounce.
This is followed by the late 2020 support level...
Which is now due to produce a bounce:
This same pattern can repeat one last time and Bitcoin bottoms and we get the following complete cycle pattern:
Do you agreen with this analysis?
Leave your thoughts, comments, charts & questions in the section below.
Namaste.
How has been Bitcoin performing as it hits support on the way down ever since April 2021's All-Time High?
Follow me and feel free to hit like NOW!
Let's look at Bitcoin's weekly support levels dynamics.
We start on the rise that peaked April 2021.
Resistance levels become support and vice versa as prices fluctuate.
Notice the Jan. 2021 support level...
On the way down, this support level produces a bounce.
This is followed by the late 2020 support level...
Which is now due to produce a bounce:
This same pattern can repeat one last time and Bitcoin bottoms and we get the following complete cycle pattern:
Do you agreen with this analysis?
Leave your thoughts, comments, charts & questions in the section below.
Namaste.
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