For a better start, let's go back to the post titled "Bitcoin Analyze_End of 🐻Bear🐻 Market❗️❓" that I reviewed in the weekly time frame.
Be sure to try reading this post to get additional information about today's post.👇
According to the post above, Bitcoin is pulling back to the heavy support zone it missed.
The pullback structure is in the form of an ascending channel, which seems to have finished the journey of Bitcoin in this ascending channel with the formation of the Evening Star candlestick pattern in the PRZ(Price Reversal Zone).
Also, If we look at to Stochastic RSI Indicator in the daily time frame, we can see the end of the movement of this uptrend.👇
🔆Result: I think Bitcoin will attack the support zone again after breaking the ascending channel.
Bitcoin Analyze ( BTCUSDT ), Daily Timeframe ⏰.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
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Commentaire
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Bitcoin broke the lower line of ascending channel as I expected ✅
The information is detailed and quite concise. Thank you for the idea! It would be interesting to know the complete list of tools you use in your analysis.