Bitcoin technical analysis: I'm eyeing a possible bounce up at $61k-$62k double support
In the dynamic landscape of cryptocurrency, observing and interpreting market trends is paramount for anyone engaged in trading or investing. In my latest analysis of Bitcoin (BTC/USD), I've captured a pivotal movement indicating a potential shift in its market trajectory. This analysis leverages the most current data and technical indicators to shed light on what might be on the horizon for Bitcoin.
New update at the end of the day - target of the below BTCUSD forecast reached, bounce currently fine but too early to say if it will sustain
Bitcoin has recently undergone a significant downturn, with a decrease of approximately 6.23% from its previous highs. This trend is noteworthy, especially considering my earlier forecast, which anticipated a range between
65K
to $69k. Bitcoin almost reached the upper echelon of this prediction, peaking at $68,933 on Coinbase.
However, the scenario has since shifted, marking an 8.68% decline from the 69K threshold. This movement has resulted in Bitcoin breaching below an intermediate support level, an essential observation for those tracking the BTC/USD pair closely.
Technical analysis insights... see video above: The analysis suggests a critical juncture lies ahead within the $61k to $62k range. This prediction isn't solely based on the recent candlestick patterns but also encompasses a thorough examination of 4-hourly candles and supplementary technical charts. This zone is identified as a pivotal support area that could significantly influence Bitcoin's immediate market behavior.
In the dynamic landscape of cryptocurrency, observing and interpreting market trends is paramount for anyone engaged in trading or investing. In my latest analysis of Bitcoin (BTC/USD), I've captured a pivotal movement indicating a potential shift in its market trajectory. This analysis leverages the most current data and technical indicators to shed light on what might be on the horizon for Bitcoin.
New update at the end of the day - target of the below BTCUSD forecast reached, bounce currently fine but too early to say if it will sustain
Bitcoin has recently undergone a significant downturn, with a decrease of approximately 6.23% from its previous highs. This trend is noteworthy, especially considering my earlier forecast, which anticipated a range between
65K
to $69k. Bitcoin almost reached the upper echelon of this prediction, peaking at $68,933 on Coinbase. However, the scenario has since shifted, marking an 8.68% decline from the 69K threshold. This movement has resulted in Bitcoin breaching below an intermediate support level, an essential observation for those tracking the BTC/USD pair closely.
Technical analysis insights... see video above: The analysis suggests a critical juncture lies ahead within the $61k to $62k range. This prediction isn't solely based on the recent candlestick patterns but also encompasses a thorough examination of 4-hourly candles and supplementary technical charts. This zone is identified as a pivotal support area that could significantly influence Bitcoin's immediate market behavior.
Comment:
Btcusd 600 pips buy 💯✅
Then he moved to SELL 530 pips
Then he moved to SELL 530 pips
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