BITCOIN FULL REVIEWthis would be a little long idea, I'm sincerely asking you to read until the end with all the comments to understand my idea completely.
I'm gonna analyze the bitcoin chart from weekly to hourly time frame and using some kind of different indicators to see as much reaction and knots as we can to find the proper behavior of price since the last dump.
generally, I have 2 kinds of view for this idea: 1- bullish and. 2- correctional. I believe there is no falling or another dumping view for this chart anymore ( at least until there is no global financial crisis ).
we start from weekly :
as I see from the start of the bullish movement in march 2020 we reach the ATH of almost $65k which was the 0.68 point of FIBO extension, then we had a retrace to 0 points of it.
As can be seen from the past chart. The price will not grow evenly, so we need retracements along the way.
And given the location and collisions of the candlesticks with the specified levels, the price may be currently in a place that needs a retracement.
From the beginning of the last uptrend on July 19, 2021, until now, we have started a perfect bullish movement, and now it is possible to retrace it by reaching the first target, which is the range of 0.38 Fibo and median fork.
considered the target :
Given that the static channel front range (indicate in purple) with a green line ( representing the 50% range of the fork) can indicate a good level for the target of the corrective movement.
