bitcoin analysis on daily chart

We see how a long-term side context is created. Naturally, technical analysts are expecting a return in the $70K region over the medium term. What they don't expect are the consequences of a possible world war and I don't think there is a technical movement that can hold up.

At the moment, the price is compressed between the $45k and $35k level. We seriously believe that breaking this sideways phase could lead to an important trend.

Moreover, it is worth noting that the price continues to settle below the important bearish head and shoulders that formed between August 2021 and December 2021. However, our analysis does not give much importance to certain technical patterns, to see BTC price come back. The neckline of this number, could mean a lot of strength and interest for a medium-term rally with Bitcoin.

For now, we suggest continuing to operate in the short term or set annual PACs given the potential aspects of the markets.

In fact, the more capitalized BTC, the smaller (in percentage terms) its movements will be and the slower (in terms of time).

However, we can't help but notice some similarities to the 2017 post-pump crash.

Post a Comment

0 Comments