Bitcoin -> The Wegde Is Breaking
Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin now finally retested and already started to reject a quite nice previous weekly resistance area which is now turned support at the $25.000 level.
You can also see that weekly market structure and moving averages are still bullish, in my opinion Bitcoin also already created the bottom of the last bear market and is now ready for more bullish moves, so I simply do expect a rejection away from the support zone.
On the daily timeframe you can see that Bitcoin is still trading in a falling wedge formation and just retested the lower support trendline towards the upside - I am now just waiting for a breakout and a break above the $26.000 level before I then do expect another rally towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin now finally retested and already started to reject a quite nice previous weekly resistance area which is now turned support at the $25.000 level.
You can also see that weekly market structure and moving averages are still bullish, in my opinion Bitcoin also already created the bottom of the last bear market and is now ready for more bullish moves, so I simply do expect a rejection away from the support zone.
On the daily timeframe you can see that Bitcoin is still trading in a falling wedge formation and just retested the lower support trendline towards the upside - I am now just waiting for a breakout and a break above the $26.000 level before I then do expect another rally towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
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