#BITCOIN / GROWTH CONTINUES
Updated
🚀#BITCOIN COULD CONTINUE ITS UPWARD TREND
👉Reasons:
🔰Bitcoin has successfully broken through significant resistance levels, which can now act as strong support.
🎯Upcoming Growth Targets:
Target 1: $70,378.62 - $70,814.39
Target 2: $73,456.09
Target 3: $77,985.36
🔰Support in Case of a Dip:
The $64,390.34 - $65,714.94 support zone could halt a decline and trigger a renewed upward movement.
🔄This post will be updated regularly throughout the week.
👉Reasons:
🔰Bitcoin has successfully broken through significant resistance levels, which can now act as strong support.
🎯Upcoming Growth Targets:
Target 1: $70,378.62 - $70,814.39
Target 2: $73,456.09
Target 3: $77,985.36
🔰Support in Case of a Dip:
The $64,390.34 - $65,714.94 support zone could halt a decline and trigger a renewed upward movement.
🔄This post will be updated regularly throughout the week.
Note
🔄#BITCOIN analysis update - July 25⏳Based on the 4H time-frame:
👉As previously stated in the initial analysis, #Bitcoin has reached a crucial support zone (63070.06-64390.34). Additionally, we have an ascending trendline on the 4-hour timeframe, which serves as a very important dynamic support level.
🔰An initial sign to confirm the formation of a bottom in this support zone and the start of an uptrend is a breakout of the trendline with a steeper slope. A lower-risk confirmation occurs after a breakout with a less steep slope.
🔰Breakouts should happen on the 1-hour timeframe.
🎯If the growth condition is met, #Bitcoin can target:
Target 1: 70378.62-70814.39
Target 2: 73456.09
Target 3: 77985.36
❌The stop-loss for the mentioned growth scenario is the 4-hour ascending trendline itself. If this trendline is broken, #Bitcoin will enter a downtrend.
Please share your thoughts on this analysis and #Bitcoin in the comments."
Note
🔄#BITCOIN analysis update - July 26⏳Based on the 4H time-frame:
"❤️HAPPY FRIDAY EVERYONE❤️
🔰THE LAST 4H CANDLE FOR #BITCOIN WAS A POWERFUL BULLISH CANDLE THAT MANAGED TO BREAK THROUGH TWO SIGNIFICANT RESISTANCES, AND THIS IS VERY DETERMINING FOR THE CONTINUED BULLISH MOVEMENT.
🔰AS A RESULT, BITCOIN CAN CONTINUE ITS BULL MOVEMENT TO THE TARGETS OF 70378.62-70814.39 AND 73456.09.
🔰IMAGINING FURTHER GROWTH BEYOND THESE TWO TARGETS FOR #BITCOIN SEEMS A BIT AMBITIOUS FOR NOW, AND WE WILL DISCUSS IT IN DUE TIME.
🔰HOWEVER, THERE IS ALSO THE POSSIBILITY OF A TEMPORARY DROP IN #BITCOIN DUE TO ENCOUNTERING THE 1H TIMEFRAME BEARISH TREND-LINE.
🔰IF THIS HAPPENS, IT WILL BE A GOOD OPPORTUNITY TO BUY BITCOIN AT LOWER PRICES ON THE SUPPORTS.
🔰THE MOST IMPORTANT SUPPORTS FOR BITCOIN ARE THE CHANNEL HIGH AS INDICATED IN THE FIGURE, AND ALSO THE SUPPORT RANGE OF 64390.34-65714.94.
❌THE STOP-LOSS FOR THE BULLISH SCENARIO EXPLAINED ABOVE IS THE PREVIOUS LOW, WHICH IS CLEARLY INDICATED IN THE FIGURE."
Note
🔄#BITCOIN analysis update - July 27⏳Based on the 4H time-frame:
🔰Based on the probability of a confirmed triple divergence on the 4-hour timeframe, #Bitcoin could start a BEARISH movement within an expanding wedge pattern.
🔰Please note that the triple divergence must occur (a MACD crossover) for the decline to happen, otherwise, the BULLISH trend will be maintained.
🔰Currently, Bitcoin is inclined to grow towards its next target, the 69,751.38 - 70,814.39 range. This range aligns with the higher timeframe BEAR trend line (shown as a dashed line in the figure).
🔰If it grows to this area, there is a possibility of weakness and consequently confirmation of the divergence and the start of a decline from this area.
🔰If the triple divergence fails, meaning that in the MACD the third peak is higher than the second peak, Bitcoin's growth will continue to its second target of 73,456.09.
Note
🔄#BITCOIN analysis update - July 28⏳Based on the 4H time-frame:
If a cross happens in the 4h timeframe, it's possible that a drop might start before reaching the growth targets!!
So, the cross in MACD, it can be the stop-loss for the growth scenario.
Note
🔄#BITCOIN analysis update - July 28⏳Based on the 4H time-frame:
"Bitcoin is at a decision point.
Scenario 1: A MACD crossover occurs, leading to a decline. The maximum expected decline is to the lower arm of the wedge (red diagonal line).
Scenario 2: A crossover does not occur, and due to resistance to the crossover, growth from this area to the targets of 70,378.62 and 73,455.79 is expected."
"To reach a quicker and more accurate conclusion, it's necessary to examine these two scenarios on lower timeframes."
...................................
⏳Based on the 1H time-frame:
The 1-hour timeframe provides us with clear details of the growth and decline conditions at the decision point.
Condition for Growth: A breakout above the resistance level of 67982.62.
Condition for Decline: Re-establishment below the 1-hour timeframe's BEARISDH trendline.
"Don't forget to like and support this post."
Note
👉Bitcoin, according to the condition I mentioned for growth, which is breaking the resistance of 67982.62, after a pullback, started its growth and so far has reached target 1✅🎯💵💲Who, based on this analysis, took this profit?
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