#BITCOIN / GROWTH CONTINUES
Updated
🚀#BITCOIN COULD CONTINUE ITS UPWARD TREND
👉Reasons:
đź”°Bitcoin has successfully broken through significant resistance levels, which can now act as strong support.
🎯Upcoming Growth Targets:
Target 1: $70,378.62 - $70,814.39
Target 2: $73,456.09
Target 3: $77,985.36
đź”°Support in Case of a Dip:
The $64,390.34 - $65,714.94 support zone could halt a decline and trigger a renewed upward movement.
🔄This post will be updated regularly throughout the week.
👉Reasons:
đź”°Bitcoin has successfully broken through significant resistance levels, which can now act as strong support.
🎯Upcoming Growth Targets:
Target 1: $70,378.62 - $70,814.39
Target 2: $73,456.09
Target 3: $77,985.36
đź”°Support in Case of a Dip:
The $64,390.34 - $65,714.94 support zone could halt a decline and trigger a renewed upward movement.
🔄This post will be updated regularly throughout the week.
Note
🔄#BITCOIN analysis update - July 25⏳Based on the 4H time-frame:
👉As previously stated in the initial analysis, #Bitcoin has reached a crucial support zone (63070.06-64390.34). Additionally, we have an ascending trendline on the 4-hour timeframe, which serves as a very important dynamic support level.
đź”°An initial sign to confirm the formation of a bottom in this support zone and the start of an uptrend is a breakout of the trendline with a steeper slope. A lower-risk confirmation occurs after a breakout with a less steep slope.
đź”°Breakouts should happen on the 1-hour timeframe.
🎯If the growth condition is met, #Bitcoin can target:
Target 1: 70378.62-70814.39
Target 2: 73456.09
Target 3: 77985.36
❌The stop-loss for the mentioned growth scenario is the 4-hour ascending trendline itself. If this trendline is broken, #Bitcoin will enter a downtrend.
Please share your thoughts on this analysis and #Bitcoin in the comments."
Note
🔄#BITCOIN analysis update - July 26⏳Based on the 4H time-frame:
"❤️HAPPY FRIDAY EVERYONE❤️
đź”°THE LAST 4H CANDLE FOR #BITCOIN WAS A POWERFUL BULLISH CANDLE THAT MANAGED TO BREAK THROUGH TWO SIGNIFICANT RESISTANCES, AND THIS IS VERY DETERMINING FOR THE CONTINUED BULLISH MOVEMENT.
đź”°AS A RESULT, BITCOIN CAN CONTINUE ITS BULL MOVEMENT TO THE TARGETS OF 70378.62-70814.39 AND 73456.09.
đź”°IMAGINING FURTHER GROWTH BEYOND THESE TWO TARGETS FOR #BITCOIN SEEMS A BIT AMBITIOUS FOR NOW, AND WE WILL DISCUSS IT IN DUE TIME.
đź”°HOWEVER, THERE IS ALSO THE POSSIBILITY OF A TEMPORARY DROP IN #BITCOIN DUE TO ENCOUNTERING THE 1H TIMEFRAME BEARISH TREND-LINE.
đź”°IF THIS HAPPENS, IT WILL BE A GOOD OPPORTUNITY TO BUY BITCOIN AT LOWER PRICES ON THE SUPPORTS.
đź”°THE MOST IMPORTANT SUPPORTS FOR BITCOIN ARE THE CHANNEL HIGH AS INDICATED IN THE FIGURE, AND ALSO THE SUPPORT RANGE OF 64390.34-65714.94.
❌THE STOP-LOSS FOR THE BULLISH SCENARIO EXPLAINED ABOVE IS THE PREVIOUS LOW, WHICH IS CLEARLY INDICATED IN THE FIGURE."
Note
🔄#BITCOIN analysis update - July 27⏳Based on the 4H time-frame:
đź”°Based on the probability of a confirmed triple divergence on the 4-hour timeframe, #Bitcoin could start a BEARISH movement within an expanding wedge pattern.
đź”°Please note that the triple divergence must occur (a MACD crossover) for the decline to happen, otherwise, the BULLISH trend will be maintained.
đź”°Currently, Bitcoin is inclined to grow towards its next target, the 69,751.38 - 70,814.39 range. This range aligns with the higher timeframe BEAR trend line (shown as a dashed line in the figure).
đź”°If it grows to this area, there is a possibility of weakness and consequently confirmation of the divergence and the start of a decline from this area.
đź”°If the triple divergence fails, meaning that in the MACD the third peak is higher than the second peak, Bitcoin's growth will continue to its second target of 73,456.09.
Note
🔄#BITCOIN analysis update - July 28⏳Based on the 4H time-frame:
If a cross happens in the 4h timeframe, it's possible that a drop might start before reaching the growth targets!!
So, the cross in MACD, it can be the stop-loss for the growth scenario.
Note
🔄#BITCOIN analysis update - July 28⏳Based on the 4H time-frame:
"Bitcoin is at a decision point.
Scenario 1: A MACD crossover occurs, leading to a decline. The maximum expected decline is to the lower arm of the wedge (red diagonal line).
Scenario 2: A crossover does not occur, and due to resistance to the crossover, growth from this area to the targets of 70,378.62 and 73,455.79 is expected."
"To reach a quicker and more accurate conclusion, it's necessary to examine these two scenarios on lower timeframes."
...................................
⏳Based on the 1H time-frame:
The 1-hour timeframe provides us with clear details of the growth and decline conditions at the decision point.
Condition for Growth: A breakout above the resistance level of 67982.62.
Condition for Decline: Re-establishment below the 1-hour timeframe's BEARISDH trendline.
"Don't forget to like and support this post."
Note
👉Bitcoin, according to the condition I mentioned for growth, which is breaking the resistance of 67982.62, after a pullback, started its growth and so far has reached target 1✅🎯💵💲Who, based on this analysis, took this profit?
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.