Bitcoin is Preparing for another Lift-Off!! Buy the Dip!! ðð
Market Instrument: BTCUSD
Timeframe: Daily, Weekly
Analysis: Technical
Structure: Support, 100MA, Channel, and Impulse
Prediction: Bullish
Here price plunged heavily on Bitcoin where the price now holds an important level of support on both Daily and Weekly charts. The price has completed the 5 impulses inside the channel formed on the daily chart where now it's on a level of support where we can see that supported good rally in this 38k area. Also when we look into the Weekly chart the price is approaching close to the 100MA and history shows us that price got supported for a massive liftoff on 100MA in March 2020. It was a complete 2 Years of Bull Run after the mentioned lift-off happened in this period close to 5K.
Timeframe: Daily, Weekly
Analysis: Technical
Structure: Support, 100MA, Channel, and Impulse
Prediction: Bullish
Here price plunged heavily on Bitcoin where the price now holds an important level of support on both Daily and Weekly charts. The price has completed the 5 impulses inside the channel formed on the daily chart where now it's on a level of support where we can see that supported good rally in this 38k area. Also when we look into the Weekly chart the price is approaching close to the 100MA and history shows us that price got supported for a massive liftoff on 100MA in March 2020. It was a complete 2 Years of Bull Run after the mentioned lift-off happened in this period close to 5K.