BOTTOM-FORMING SUPPORT LEVELS ⟶CAN #BITCOIN BOUNCE BACK?

23 sept. 2024

Bitcoin Analysis Summary 📊
#Bitcoin / 1-Hour Time Frame ⏰

Based on my previous analysis, I believed that as long as Bitcoin stays within the bullish channel 📈 on the 4-hour time frame, it could continue its strong upward trend towards the next targets:

Within the 4-hour bullish channel, there are three key support levels that could stop the current decline and trigger a new upward movement 🚀:

First Support Level: 63,313.25 - 63,400.00
Second Support Level: 62,557.24 - 62,621.90
Third Support Level: 61,669.95 - 61,735.13

Bitcoin may build a bottom at one of these support levels and rise towards the following targets:
Target 1: 64,267.20 - 64,611.60 🎯
Target 2: 65,976.95
Target 3: 66,755.85
Target 4: 68,375.15 📈

Stop-loss for the strong uptrend scenario:
If the third support level (61,669.95 - 61,735.13) is broken downward on the 4-hour time frame, a temporary decline may continue towards the 57,877 - 59,337 range 📉, where a new upward trend could begin.

Make sure to check out my previous analysis on the daily time frame as well! 📝

25 sept. 2024

Note

Hey, how’s it going? 👋

Did you keep an eye on my previous #Bitcoin analysis?

It finally formed a bottom after battling with the first support zone (63,313.25 - 63,400.00) 📉 and then started to rise 📈.

Target 1 from that analysis has been hit 🎯.

Another accurate prediction! ✅
I hope you’ve made a profit from it 💰.