Bitcoin -> No Bullrun Now?
Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin💪
A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.
Furthermore you can also see that weekly market structure is bullish with Bitcoin creating higher highs and higher lows - however we could see a short term rejection away from the current resistance zone but eventually I do expect a bullish break as well.
You can also see that Bitcoin now broke below the previous daily support and is therefore now in a bearish market so I am simply waiting for a break back above the structure and then I do expect the overall bullrun to continue.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin💪
A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.
Furthermore you can also see that weekly market structure is bullish with Bitcoin creating higher highs and higher lows - however we could see a short term rejection away from the current resistance zone but eventually I do expect a bullish break as well.
You can also see that Bitcoin now broke below the previous daily support and is therefore now in a bearish market so I am simply waiting for a break back above the structure and then I do expect the overall bullrun to continue.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
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💰|Stocks, Cryptos, Indices, Metals
💶|Keep your long term vision
👇🏻|Free "Trading Newsletter"
basictrading.net
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