#Bitcoin - Target of 52 K by May / June 2022
Hey good morning everyone,
I hope everybody is doing fine and you are taking care of yourself and your family today’s analysis is based on Bitcoin what is going to happen. …. lot of rumors ARE there in the market that Bitcoin will crash to 20 K DUE TO THE USE OF nuclear weapons against Ukraine WHICH WILL ADD TO GLOBAL TENSIONS AND WORL WAR – 3 MAY START. Yes all these things will affect the outcome of the Bitcoin in coming weeks.
If till now you have not followed our trading view page do hit the follow button. I really feel nothing is too bad for Bitcoin till now please watch the video till the end. OK let’s go onto the chart of bitcoin. this is a daily timeframe chart of Bitcoin. presently Bitcoin is trading at about 39900 levels after a correction from the recent highs of 45 k.
whole last week Bitcoin had been bearish.. So lets check what the technical say about the chart. Always remember one thing in technical analysis. Whenever doing analysis have a holistic view of the chart what is happening on the chart on a higher time frame. As of now if you see Bitcoin is forming higher lows formation for example on 24th of Jan the low was 32900 and thereafter it went up made a high of about 45600 levels and then formed a bearish pattern and corrected to the levels of 34300 if you see this low is higher than the previous low which was at 32900 levels and then again Bitcoin recovered and again went on to hit the strong resistance zone of between 45000 and 46000 so again Bitcoin formed a higher low of 37500 now if we compare this first of low of 24 Feb that was 37500 to the previous low of 24 JAN that was 32900 so all these lows are IN A FASHION OF higher lows formation and then we take our attention to the To the recent lows of 11th April that is 39200 so all these lows again are in a higher low formation.
As far as the learnings and teachings of technical analysis are concerned when an instrument or script is forming higher lows on a higher time fame represents that it is in a bullish trend. so this bullish trend will continue as far as the technical analysis is concerned till the time levels of 37 K are intact we will see the Bitcoin moving in this range of between 45K to 38K and once the levels of 45 K are broken we can see it hitting a higher highs of 52 k as my first target.
Thereafter we will consolidate at 52 k till mid-May / June 2022 and then HIT a high of 70 K on charts. Thank you this was just a quick update on Bitcoin and also to clear your doubts that will bitcoin fall to 20 K levels as per rumors. So friends there is nothing to worry as far as the technical analysis says in Bitcoin. We are in a strong bullish trend and these corrections are considered healthy for a good strong up move.
if you have any questions do put them in the comment box I will try to answer those questions and reply back as soon as possible thank you .. God Bless You
I hope everybody is doing fine and you are taking care of yourself and your family today’s analysis is based on Bitcoin what is going to happen. …. lot of rumors ARE there in the market that Bitcoin will crash to 20 K DUE TO THE USE OF nuclear weapons against Ukraine WHICH WILL ADD TO GLOBAL TENSIONS AND WORL WAR – 3 MAY START. Yes all these things will affect the outcome of the Bitcoin in coming weeks.
If till now you have not followed our trading view page do hit the follow button. I really feel nothing is too bad for Bitcoin till now please watch the video till the end. OK let’s go onto the chart of bitcoin. this is a daily timeframe chart of Bitcoin. presently Bitcoin is trading at about 39900 levels after a correction from the recent highs of 45 k.
whole last week Bitcoin had been bearish.. So lets check what the technical say about the chart. Always remember one thing in technical analysis. Whenever doing analysis have a holistic view of the chart what is happening on the chart on a higher time frame. As of now if you see Bitcoin is forming higher lows formation for example on 24th of Jan the low was 32900 and thereafter it went up made a high of about 45600 levels and then formed a bearish pattern and corrected to the levels of 34300 if you see this low is higher than the previous low which was at 32900 levels and then again Bitcoin recovered and again went on to hit the strong resistance zone of between 45000 and 46000 so again Bitcoin formed a higher low of 37500 now if we compare this first of low of 24 Feb that was 37500 to the previous low of 24 JAN that was 32900 so all these lows are IN A FASHION OF higher lows formation and then we take our attention to the To the recent lows of 11th April that is 39200 so all these lows again are in a higher low formation.
As far as the learnings and teachings of technical analysis are concerned when an instrument or script is forming higher lows on a higher time fame represents that it is in a bullish trend. so this bullish trend will continue as far as the technical analysis is concerned till the time levels of 37 K are intact we will see the Bitcoin moving in this range of between 45K to 38K and once the levels of 45 K are broken we can see it hitting a higher highs of 52 k as my first target.
Thereafter we will consolidate at 52 k till mid-May / June 2022 and then HIT a high of 70 K on charts. Thank you this was just a quick update on Bitcoin and also to clear your doubts that will bitcoin fall to 20 K levels as per rumors. So friends there is nothing to worry as far as the technical analysis says in Bitcoin. We are in a strong bullish trend and these corrections are considered healthy for a good strong up move.
if you have any questions do put them in the comment box I will try to answer those questions and reply back as soon as possible thank you .. God Bless You