after testing the trendline support the price rebounded as expected, there are two possible scenarios in my opinion: 1- breaks the ATH and goes up to 77K 2- test the ATH again and then the trendline again before continuing to 77K
As expected the trendline has done its job, now we can keep pumping
The support previously indicated in the last analysis has been practically reached, now we may see an ascending triangle forming before pumping again, however it is time to buy
First trendline broken, next point to open a long is around 54K
After testing the resistance at 62K it seems that the price wants to test the support of the trendline at 58K, the best price to go long before starting to rise again towards 70K
Reached today the resistance of 62K, if the week closes above we will go straight to 77K, good profit everyone!
although Bitcoin has touched the previous ATH there does not seem to be any sell signals, the trendline is intact so it seems that it is only a matter of hours before the 58K is destroyed ... we follow the trend until the trendline is broken
the show is about to start, sit down, grab some popcorn and enjoy!
Trendlines are the simplest but also the most effective tool in trading, over the years I have lost time and money looking for the perfect indicator when instead the simplicity and effectiveness of trendlines never fails ... of course there are other excellent indicators, but nobody ever is as powerful as trendlines, so ... just follow the trend :) #Bitcoin
The trend is absolutely bullish on all timeframes, waiting for a close above the base line will give us further confirmation of the direction that Bitcoin will take, however the bulls are very strong currently
As published yesterday the trendline has been broken and the price is traveling above the cloud, if the price remains stable or continues to rise until tomorrow we should see 62K very soon
The trendline has been broken, it looks very promising in the short term, let's see if it is the beginning of a new positive trend
Bitcoin is dancing below the base line but still above the fib support, it wouldn't surprise me another hit down to 40K, what is certain is that the trend is still bullish and the next resistance will probably be around 72-75K