Bitcoin is in compression area, watch this for the next move.

2024年3月22日

From ATH 73836$, Bitcoin dumped down to 60k$. Is it a good time to refill or will it continue lower ? We will try to anticipate by looking for breakouts using RSI and volume profile.

The RSI has completed an head and shoulders pattern, falling back to 50 in value and entering a triangle between ascending support and falling resistance. A breakout from this triangle will tell us the direction for the next move.

Volume Profile shows us that there is a lot of trading volume from 66k up to 69k$. If price breaks above 69k then there will be no barrier to the upside. Until then Bitcoin remains weak.

2024年3月25日

注释

Breakout:


Next Target according to prev monthly R2 Pivot is 77 787$.

2024年4月8日

交易开始

The breakout is more clear now.
There is one resistance left that is on the RSI, the upper descending channel.
77k$ is the target.