Hello Traders,
welcome to this free and educational multi-timeframe technical analysis .
From a weekly perspective Bitcoin just recently had a massive 50% pump towards the upside without any noticable correction.
Therefore, it was quite expected that we will at least have a short term retracement, which the market is currently providing. However since we are now testing previous weekly resistance, turned support, I do expect the continuation towards the upside from here.
On the daily timeframe we can see the same picture, the market is about to retest a previous daily resistance zone; I am now just waiting for a deeper retracement before I do expect the continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis .
From a weekly perspective Bitcoin just recently had a massive 50% pump towards the upside without any noticable correction.
Therefore, it was quite expected that we will at least have a short term retracement, which the market is currently providing. However since we are now testing previous weekly resistance, turned support, I do expect the continuation towards the upside from here.
On the daily timeframe we can see the same picture, the market is about to retest a previous daily resistance zone; I am now just waiting for a deeper retracement before I do expect the continuation towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
