Navigating to a Landscape of Bitcoin ๐๏ธPhoenix๐๏ธ Rebirth!!!
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Hiโ๐ปdear traders, I'm pejman๐๐ป and welcome๐ผ to the navigation๐๏ธ of the Bitcoin Phoenix rebirth๐ฅ.
As you know, Bitcoin has appeared as a legend in the cryptocurrency๐ชworld, so this currency should be described๐ as a legendary๐ซ bird.
Bitcoin, the world's๐ first and most popular๐ cryptocurrency, has experienced a rollercoaster๐ข of highsโฌ๏ธ and lowsโฌ๏ธ over the years. Bitcoin has seen its share๐ of ups and downs, from its early days as part of the dark๐ web to its extremeโจ mainstream popularity๐ฐ.
Today I invite๐ you to watch๐ the rebirth๐ of the Bitcoin Phoenix, and I'm๐๐ป gonna tell my opinion๐ฏ๏ธ about the rise๐ฒ of this legendary bird from its ashesโจ๏ธ.
In the chart๐, you can see๐ that this beautifulโจ bird formed a Highโฌ๏ธ at the price of $69,000 and began to burn๐ฅ during this downwardโฌ๏ธ trend in the weekly timeframe.
As you know, the downward trend happens when the candles๐ฏ๏ธ can form ๐ปLower Highs(LH) and ๐ปLower Lows(LL) every time (General definition of a downward trend).
As shown in the above chart๐, after reaching the peakโฐ๏ธ of $69,000, Bitcoin has been experiencing a price fall๐ป for less than a year and a half and is stuck๐๐ป below an important downward trend line.
In the last few weeks, Bitcoin has been able to break๐ฅ this important downward๐ป trend line to the top๐, which could be a positiveโ sign for the rebirth๐ sparksโจ of the young Bitcoin.
The next signโ๏ธ is that Bitcoin was able to form one of the essential bullish๐ข signals in the financial markets yesterday, the golden๐ก cross.
A Golden๐ก Cross is a basic technical indicator that occursโ๏ธ in the market when a short-term moving average (50-day) of an asset risesโ๐ป above a long-term moving average ( 200-day ). When traders๐ค see a Golden Cross occur, they take this chart pattern as indicative of a strong bull๐ข market.
The next sign for this spark๐ฅ and confirmationโ of the bullish๐ข market's beginning is that Bitcoin can close a candle๐ฏ๏ธ above its previous Lower High(LH).
In addition, as you can see๐, the RSI indicator has crossed the 50% line in the weekly timeframe๐ and rose higher๐บ. The RSI also can pull back to the 50% line and increase again.๐
According to these signs๐๐ป, I expect Bitcoin to decrease๐ป to the Support zone($21870-$20870)๐ข, and this price fallingโฌ๏ธ can be like a pullback and a tribute to this zone.
After that, I expect it to grow๐ธ to the heavy Resistance zone($31820-$26550)๐ด, which is probably our target๐ฏ price can be around the yearly pivot point, In the future๐๐ป.
Maybe this young bird๐๏ธ will set the market on fire๐ฅ and be born again. But be patient my friends๐๐ป. Bill Gates says: โโPatience is a key๐ element of success๐ช๐ปโโ.
Also, if you are interested in seeing my Bitcoin ๐บ๏ธRoad map๐บ๏ธ drawn using Elliott's theory, be sure to visit the following post.๐
Rememberโ๐ป to consult with experienced people, do a lot of research๐, and be cautious in any investment๐ฐ or financial decisions; Because Discretion is the most significant๐๐ป part of valor.
If you have any ideas๐ก or questionsโ, I'll gladly answer them in the comments๐ฌ.
Bitcoin Analyze ( BTCUSDT ), Weekly time frame โฐ.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
As you know, Bitcoin has appeared as a legend in the cryptocurrency๐ชworld, so this currency should be described๐ as a legendary๐ซ bird.
Bitcoin, the world's๐ first and most popular๐ cryptocurrency, has experienced a rollercoaster๐ข of highsโฌ๏ธ and lowsโฌ๏ธ over the years. Bitcoin has seen its share๐ of ups and downs, from its early days as part of the dark๐ web to its extremeโจ mainstream popularity๐ฐ.
Today I invite๐ you to watch๐ the rebirth๐ of the Bitcoin Phoenix, and I'm๐๐ป gonna tell my opinion๐ฏ๏ธ about the rise๐ฒ of this legendary bird from its ashesโจ๏ธ.
In the chart๐, you can see๐ that this beautifulโจ bird formed a Highโฌ๏ธ at the price of $69,000 and began to burn๐ฅ during this downwardโฌ๏ธ trend in the weekly timeframe.
As you know, the downward trend happens when the candles๐ฏ๏ธ can form ๐ปLower Highs(LH) and ๐ปLower Lows(LL) every time (General definition of a downward trend).
As shown in the above chart๐, after reaching the peakโฐ๏ธ of $69,000, Bitcoin has been experiencing a price fall๐ป for less than a year and a half and is stuck๐๐ป below an important downward trend line.
In the last few weeks, Bitcoin has been able to break๐ฅ this important downward๐ป trend line to the top๐, which could be a positiveโ sign for the rebirth๐ sparksโจ of the young Bitcoin.
The next signโ๏ธ is that Bitcoin was able to form one of the essential bullish๐ข signals in the financial markets yesterday, the golden๐ก cross.
A Golden๐ก Cross is a basic technical indicator that occursโ๏ธ in the market when a short-term moving average (50-day) of an asset risesโ๐ป above a long-term moving average ( 200-day ). When traders๐ค see a Golden Cross occur, they take this chart pattern as indicative of a strong bull๐ข market.
The next sign for this spark๐ฅ and confirmationโ of the bullish๐ข market's beginning is that Bitcoin can close a candle๐ฏ๏ธ above its previous Lower High(LH).
In addition, as you can see๐, the RSI indicator has crossed the 50% line in the weekly timeframe๐ and rose higher๐บ. The RSI also can pull back to the 50% line and increase again.๐
According to these signs๐๐ป, I expect Bitcoin to decrease๐ป to the Support zone($21870-$20870)๐ข, and this price fallingโฌ๏ธ can be like a pullback and a tribute to this zone.
After that, I expect it to grow๐ธ to the heavy Resistance zone($31820-$26550)๐ด, which is probably our target๐ฏ price can be around the yearly pivot point, In the future๐๐ป.
Maybe this young bird๐๏ธ will set the market on fire๐ฅ and be born again. But be patient my friends๐๐ป. Bill Gates says: โโPatience is a key๐ element of success๐ช๐ปโโ.
Also, if you are interested in seeing my Bitcoin ๐บ๏ธRoad map๐บ๏ธ drawn using Elliott's theory, be sure to visit the following post.๐
Rememberโ๐ป to consult with experienced people, do a lot of research๐, and be cautious in any investment๐ฐ or financial decisions; Because Discretion is the most significant๐๐ป part of valor.
If you have any ideas๐ก or questionsโ, I'll gladly answer them in the comments๐ฌ.
Bitcoin Analyze ( BTCUSDT ), Weekly time frame โฐ.
Do not forget to put Stop loss for your positions (For every position that you want to open).
Please follow your strategy, this is just my Idea, and I will be glad to see your ideas in this post.
Please do not forget the โ ' like'โ button ๐๐ & Share it with your friends; thanks, and Trade safe.
ืืขืจื
Agree with meโ๏ธโืืขืจื
Can Bitcoin make a new HIgher High(HH)โืืขืจื
โ
Running wellโ
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Weekly time frameืืขืจื
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