Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin💪
A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.
You can also see that Bitcoin is approaching the weekly support trendline of the obvious rising channel so also from a weekly perspective everything is pointing towards more continuation towards the upside.
Looking at the daily timeframe you can also see that Bitcoin is retesting daily structure which is now acting as support and also retesting the 0.382 fibonacci retracement level so I am simply waiting for a bullish rejection and then I do expect a massive daily push towards the upside.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin💪
A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.
You can also see that Bitcoin is approaching the weekly support trendline of the obvious rising channel so also from a weekly perspective everything is pointing towards more continuation towards the upside.
Looking at the daily timeframe you can also see that Bitcoin is retesting daily structure which is now acting as support and also retesting the 0.382 fibonacci retracement level so I am simply waiting for a bullish rejection and then I do expect a massive daily push towards the upside.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
