Bitcoin / TetherUSāļāļĩāđāļāļąāļāđāļāļ: Navigating to a Landscape of Bitcoin ðïļPhoenixðïļ Rebirth!!!
Hiâðŧdear traders, I'm pejmanððŧ and welcomeðž to the navigationðïļ of the Bitcoin Phoenix rebirthðĨ.
As you know, Bitcoin has appeared as a legend in the cryptocurrencyðŠworld, so this currency should be describedð as a legendaryðŦ bird.
Bitcoin, the world'sð first and most popularð cryptocurrency, has experienced a rollercoasterðĒ of highsâŽïļ and lowsâŽïļ over the years. Bitcoin has seen its shareð of ups and downs, from its early days as part of the darkð web to its extremeâĻ mainstream popularityð°.
Today I inviteð you to watchð the rebirthð of the Bitcoin Phoenix, and I'mððŧ gonna tell my opinionðŊïļ about the riseðē of this legendary bird from its ashesâĻïļ.
In the chartð, you can seeð that this beautifulâĻ bird formed a HighâŽïļ at the price of $69,000 and began to burnðĨ during this downwardâŽïļ trend in the weekly timeframe.
As you know, the downward trend happens when the candlesðŊïļ can form ðŧLower Highs(LH) and ðŧLower Lows(LL) every time (General definition of a downward trend).
As shown in the above chartð, after reaching the peakâ°ïļ of $69,000, Bitcoin has been experiencing a price fallðŧ for less than a year and a half and is stuckððŧ below an important downward trend line.
In the last few weeks, Bitcoin has been able to breakðĨ this important downwardðŧ trend line to the topð, which could be a positiveâ sign for the rebirthð sparksâĻ of the young Bitcoin.
The next signâïļ is that Bitcoin was able to form one of the essential bullishðĒ signals in the financial markets yesterday, the goldenðĄ cross.
A GoldenðĄ Cross is a basic technical indicator that occursâïļ in the market when a short-term moving average (50-day) of an asset risesâðŧ above a long-term moving average ( 200-day ). When tradersðĪ see a Golden Cross occur, they take this chart pattern as indicative of a strong bullðĒ market.
The next sign for this sparkðĨ and confirmationâ of the bullishðĒ market's beginning is that Bitcoin can close a candleðŊïļ above its previous Lower High(LH).
In addition, as you can seeð, the RSI indicator has crossed the 50% line in the weekly timeframeð and rose higherðš. The RSI also can pull back to the 50% line and increase again.ð
According to these signsððŧ, I expect Bitcoin to decreaseðŧ to the Support zone($21870-$20870)ðĒ, and this price fallingâŽïļ can be like a pullback and a tribute to this zone.
After that, I expect it to growðļ to the heavy Resistance zone($31820-$26550)ðī, which is probably our targetðŊ price can be around the yearly pivot point, In the futureððŧ.
Maybe this young birdðïļ will set the market on fireðĨ and be born again. But be patient my friendsððŧ. Bill Gates says: ââPatience is a keyð element of successðŠðŧââ.
Also, if you are interested in seeing my Bitcoin ðšïļRoad mapðšïļ drawn using Elliott's theory, be sure to visit the following post.ð
Rememberâðŧ to consult with experienced people, do a lot of researchð, and be cautious in any investmentð° or financial decisions; Because Discretion is the most significantððŧ part of valor.
If you have any ideasðĄ or questionsâ, I'll gladly answer them in the commentsðŽ.
Bitcoin Analyze ( BTCUSDT ), Weekly time frame â°.
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.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
As you know, Bitcoin has appeared as a legend in the cryptocurrencyðŠworld, so this currency should be describedð as a legendaryðŦ bird.
Bitcoin, the world'sð first and most popularð cryptocurrency, has experienced a rollercoasterðĒ of highsâŽïļ and lowsâŽïļ over the years. Bitcoin has seen its shareð of ups and downs, from its early days as part of the darkð web to its extremeâĻ mainstream popularityð°.
Today I inviteð you to watchð the rebirthð of the Bitcoin Phoenix, and I'mððŧ gonna tell my opinionðŊïļ about the riseðē of this legendary bird from its ashesâĻïļ.
In the chartð, you can seeð that this beautifulâĻ bird formed a HighâŽïļ at the price of $69,000 and began to burnðĨ during this downwardâŽïļ trend in the weekly timeframe.
As you know, the downward trend happens when the candlesðŊïļ can form ðŧLower Highs(LH) and ðŧLower Lows(LL) every time (General definition of a downward trend).
As shown in the above chartð, after reaching the peakâ°ïļ of $69,000, Bitcoin has been experiencing a price fallðŧ for less than a year and a half and is stuckððŧ below an important downward trend line.
In the last few weeks, Bitcoin has been able to breakðĨ this important downwardðŧ trend line to the topð, which could be a positiveâ sign for the rebirthð sparksâĻ of the young Bitcoin.
The next signâïļ is that Bitcoin was able to form one of the essential bullishðĒ signals in the financial markets yesterday, the goldenðĄ cross.
A GoldenðĄ Cross is a basic technical indicator that occursâïļ in the market when a short-term moving average (50-day) of an asset risesâðŧ above a long-term moving average ( 200-day ). When tradersðĪ see a Golden Cross occur, they take this chart pattern as indicative of a strong bullðĒ market.
The next sign for this sparkðĨ and confirmationâ of the bullishðĒ market's beginning is that Bitcoin can close a candleðŊïļ above its previous Lower High(LH).
In addition, as you can seeð, the RSI indicator has crossed the 50% line in the weekly timeframeð and rose higherðš. The RSI also can pull back to the 50% line and increase again.ð
According to these signsððŧ, I expect Bitcoin to decreaseðŧ to the Support zone($21870-$20870)ðĒ, and this price fallingâŽïļ can be like a pullback and a tribute to this zone.
After that, I expect it to growðļ to the heavy Resistance zone($31820-$26550)ðī, which is probably our targetðŊ price can be around the yearly pivot point, In the futureððŧ.
Maybe this young birdðïļ will set the market on fireðĨ and be born again. But be patient my friendsððŧ. Bill Gates says: ââPatience is a keyð element of successðŠðŧââ.
Also, if you are interested in seeing my Bitcoin ðšïļRoad mapðšïļ drawn using Elliott's theory, be sure to visit the following post.ð
Rememberâðŧ to consult with experienced people, do a lot of researchð, and be cautious in any investmentð° or financial decisions; Because Discretion is the most significantððŧ part of valor.
If you have any ideasðĄ or questionsâ, I'll gladly answer them in the commentsðŽ.
Bitcoin Analyze ( BTCUSDT ), Weekly time frame â°.
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.
Please do not forget the â ' like'â button ðð & Share it with your friends; thanks, and Trade safe.
āļāļąāļāļāļķāļ
Agree with meâïļâāļāļąāļāļāļķāļ
Can Bitcoin make a new HIgher High(HH)âāļāļąāļāļāļķāļ
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Running wellâ
āļāļąāļāļāļķāļ
Weekly time frameāļāļąāļāļāļķāļ
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ðGet a 20% Discount on your trading FEE on BYBIT:ðpartner.bybit.com/b/PEJMANZWIN
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