BTCUSDTAccording to the previous analyses, the trend is still bearish for those interested in knowing what will happen to Bitcoin in the future or wanting to trade on it.
The situation is likely to happen in the short-term time frame, as shown in the image.
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BTCUSDT BEAR FLAG PATTERNBitcoin is down again with a bear sentiment , $42k - $43k which seems to be an opportunity for support on the weekly timeframe has been lost seeing the candlestick below the zone. There is less than 48hours to see how the weekly timeframe would playout and also, as indicated on the chart, we can see a bear flag pattern which has just made a retest on the flag's support zone which infers the continuation of the downtrend. This could be the inception of the second phase of bear season, eschew hastiness and try to do as much as possible research before taking stakes.
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As shown on the chart, we have a successful breakout from the trendline. Therefore, I expect a pullback to $38,000, then a bullish move to $51,000 (if the trendline should serve as support this time)
We have a resistance zone within $40,000 & $41,000 which indicates a good zone to pick a short trade, but we can be sure yet until we see the daily close of the candle if it’s going to be above or below the $41,000 supply zone.
Nevertheless, this upmove is line with my previous idea where I indicated that bear season is over. Take a look at it👇👇
As shown on the chart, we have a successful breakout from the trendline. Therefore, I expect a pullback to $38,000, then a bullish move to $51,000 (if the trendline should serve as support this time)
We have a resistance zone within $40,000 & $41,000 which indicates a good zone to pick a short trade, but we can be sure yet until we see the daily close of the candle if it’s going to be above or below the $41,000 supply zone.
Nevertheless, this upmove is line with my previous idea where I indicated that it seems bear season is over. Take a look at it👇
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BtcusdtEveryone has been saying buy for months, but we sell because it broke the diagonal support on a weekly basis, pull back was not enough, it breaks the horizontal, so the first target is $32.000/$29.000 band, it will seek buyers from here, but our prediction is that an asset that sells from $ 69.000 to here may not find a buyer here, the reason is $ 4.100. It's only one correction since the non-stop $65,000 band broke out with uncorrected inflation panic buying. For this reason, the $32,000/$29,000 band is an important region below here, the target of the monthly double top and the 78.6 target of the correction, which is $20,000. It will want to go to the /$19,000 band.
This is not investment advice
This idea is a prediction, no one knows the future.
BTCUSDTHello everyone, and welcome to my TradingView profile, my name is TRADiNG_Club_ and today I am going to analyze BTC/USDT a full technical analysis on different time frames using a translation of market information While doing so, let me give you a personal opinion about it. The next most likely market movement and helps you find and manage market opportunities.
My thoughts are for those who are interested in improving their financial education.
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BTCUSDT possible target 63300 and 65000last week professionals did profit taking by their long positions. 48700 initial support even suspect break due to fast fall down. 452000 strong support area should hold to maintain bullish trend for longer term. 63300 and 65000 possible target soon, even suspect more bullish if breaks and hold above 65000