Hello every one
Bitcoin / U.S. Dollar
Bitcoin has been bearish for quite some time now.but it is predictable where it would go from here! As you can see if we observe the chart in weekly Timeframe , we can come to a conclusion that this whole trend which was started from early 2021, is in an ascending channel . This channel which we've drawn for you, has worked perfectly since The price has touched the top & bottom of the channel multiple times and is still in the channel.right now the price is near the bottom of the mentioned channel. There is multiple reasons for Bitcoin to have a bullish pullback point from the bottom of the channel.first reason of course is the channel it self which the bottom line will be a great support. Secondly is the EMA 100 which sits right at the bottom of the channel which is also another great support as well.Thirdly if we put Fibonacci Retracement on the chart the 0.786 Line of Fibonacci is also right at the bottom of the channel which is also another support level! All these reasons makes us think that around 35k is a great support point for Bitcoin and an awsome price for Starting a Bullish Trend from there & Reach the top of The channel & Create a New All Time High!
Bitcoin / U.S. Dollar
Bitcoin has been bearish for quite some time now.but it is predictable where it would go from here! As you can see if we observe the chart in weekly Timeframe , we can come to a conclusion that this whole trend which was started from early 2021, is in an ascending channel . This channel which we've drawn for you, has worked perfectly since The price has touched the top & bottom of the channel multiple times and is still in the channel.right now the price is near the bottom of the mentioned channel. There is multiple reasons for Bitcoin to have a bullish pullback point from the bottom of the channel.first reason of course is the channel it self which the bottom line will be a great support. Secondly is the EMA 100 which sits right at the bottom of the channel which is also another great support as well.Thirdly if we put Fibonacci Retracement on the chart the 0.786 Line of Fibonacci is also right at the bottom of the channel which is also another support level! All these reasons makes us think that around 35k is a great support point for Bitcoin and an awsome price for Starting a Bullish Trend from there & Reach the top of The channel & Create a New All Time High!