BITCOIN - GEARING UP for another ATH ⬆

1 mars 2023

Hi Traders, Investors and Speculators of the Charts 📈📉

In today's analysis, I take a look at a fractal that played out on Bitcoin during March 2019 over a few months. This was the beginning of the bull cycle that led to BTC's all time high.

Fractals can be very helpful to give an idea how the price action behaves after certain trends, which is where trend lines become especially useful in conjunction with fractal strategy.

I believe there is an important balance between trend line analysis / chart analysis, and technical indicator analysis. I find that trend analysis ( trend lines , support zone and resistance zone , Fibonacci ) is really helpful for longer term, whilst technical indicators such as RSI can be very useful for the shorter term. Important to note that today's analysis is focused on longer term, in other words potentially more than 3 months.

This analysis on Bitcoin corresponds with my previous in depth analysis on BTC , which you can find here 👇 This update uses BTC .D ( bitcoin dominance) and TOTAL2 (total market cap of alts) to speculate shorter term price action for Bitcoin .

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CryptoCheck

2 mai 2023

Note

This pattern is holding up well on BTC.