Bitcoin is going to face pressure from two support lines that you can see on the chart and while people find a lot of correlation between S&P 500 Index Chart to that of bitcoin, we can assume that there's huge volatility across the global markets and not just cryptocurrencies.
I've drawn multiple scenarios for reversal without having an ambitious target like...
Bitcoin is exactly following our trendline. If it breaks the trendline support than expect it to $40 -42k. there is a resistance at $51k so trade carefully. If BTC breaks it than expect $59k.
Bitcoin is looking for the down move before its massive bull movement.
The Bitcoin market is looking for yet another short correction and the Buy targets are:-
Buy zone 1- $53K-$52K
Buy zone 2- $58K-$56K (for a safer entry )
and the sell targets are
Target 1 - $63750- $62800
Target 2- $68800- $67500
bitcoin forming bullish pennant pattern in 1d chart and most likely it will break about be ready for next btc all time high on 15 november as there is an event as well so we are likely to break above and with it ada will be fire .
Bitcoin projected targets are 80k as per both of my theories:-
1st THEORY- FLAG & POLE - Widely used Flag Pole is basically plotted to guess further targets when an asset is at ATH . Bitcoin went into consolidation and formed a slant flag after a huge rally, here the rally is considered as a pole. So we just draw a trendline from the bottom to the top of the rally...
Bitcoin is at a vital stage which can impact its short term price movement.
Any breakout from range can lead to a rally. While failure to breakout can cause it to trade within range.
DYOR before investing or trading.
Bitcoin has taken support on the 29k line 3 times in the last 3 months.
RSI has cooled own from 90 to 57.
Next support for RSI is available at 48 and after that 43 which will be crucial, if we do not see a bounce back from 43 here then it may slip to 20k or probably 13k.
Bitcoin 65k soon....I AM BULLISH
THE CHART INDICATE THAT HOW TO RISE OF BITCOIN PRICE IN UPCOMINE DAYS.
NOTE: SUPPORT AND RESISTANCE ARE MOST IMPORTANT,
AND MUST RESPECT OF ALL.
#Bitcoin hitting all time high as predicted earlier on 8th March, after breaking the ascending triangle. It hit the exact target as of now.
We might see the price now testing the previous resistance (Support as of now) and might hit new highs.
stay tuned for the new highs and keep your eyes open.
*** THIS IS NOT A FINANCIAL ADVICE, TRADE AT YOUR OWN RISK!! ***
BITCOIN UPDATE. ✌ 🤲
Bullish Trend. ✅✅
11940 - 12060 Is A Good Trend Line Resistence, If Price Successfully Breck This Level, Then Next Target Will Be 12800 - 13400,
Brarish Trend.... ❌❌
BTC Can Be Retest Near At 11700 Again,Then It Will Be Pump From Here,
If Price Failed To Pump From Near 11700, Then Price Again Take Another Corretion At 11850 - 11200,
