Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as FINANCIAL ADVICE.
#BTC LONG-TERM UPDATE:
If you look closely at the first cycle and compare it to subsequent cycles, you will find that the beginning of 2021 was great for Bitcoin because it grew by almost 500% in 3 swings.
If you look at the second cycle, the price has risen at first, but later you realize that this is a trading range. In the trading range, there is a difference between the buyer and the seller.
After the failure of the trading range, the price enters a downward trend for a while and falls about 51%. You may think that this is too much and it is no longer possible for the price to return. In fact, this is not the case. It is necessary for the price and health of the market, although this decline did not happen easily,
This was one of the reasons why fear entered the market and the price entered a downward trend
In the third cycle, the price enters an upward trend. Banks and institutions intensively buy. Finally, the price grows by about 130% during the two ascending swings and forms a new ATH. Finally, buyers tend to buy in the range of 60,000 to 68,000. The dollar is completely lost, and organizations and institutions try to save profits and exit their transactions with a profit. Eventually, the price falls and continues to fall for a period of up to $ 33,000.
Buyers see the price range as an opportunity to invest and buy for a short time. The war between Russia and Ukraine has been going on for nearly two months, plunging the entire financial market into fear. Secured assets, such as gold or oil, are why we are seeing them grow these days
In general, I do not see good conditions for risky financial markets. On the other hand, the price is currently moving within a trading range, which is also a sign of the end of the downtrend and the beginning of a new cycle.
If the price wants to move as it did in the past, we should see an increase in the price of bitcoin in the coming days
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as FINANCIAL ADVICE.
#BTC LONG-TERM UPDATE:
If you look closely at the first cycle and compare it to subsequent cycles, you will find that the beginning of 2021 was great for Bitcoin because it grew by almost 500% in 3 swings.
If you look at the second cycle, the price has risen at first, but later you realize that this is a trading range. In the trading range, there is a difference between the buyer and the seller.
After the failure of the trading range, the price enters a downward trend for a while and falls about 51%. You may think that this is too much and it is no longer possible for the price to return. In fact, this is not the case. It is necessary for the price and health of the market, although this decline did not happen easily,
This was one of the reasons why fear entered the market and the price entered a downward trend
In the third cycle, the price enters an upward trend. Banks and institutions intensively buy. Finally, the price grows by about 130% during the two ascending swings and forms a new ATH. Finally, buyers tend to buy in the range of 60,000 to 68,000. The dollar is completely lost, and organizations and institutions try to save profits and exit their transactions with a profit. Eventually, the price falls and continues to fall for a period of up to $ 33,000.
Buyers see the price range as an opportunity to invest and buy for a short time. The war between Russia and Ukraine has been going on for nearly two months, plunging the entire financial market into fear. Secured assets, such as gold or oil, are why we are seeing them grow these days
In general, I do not see good conditions for risky financial markets. On the other hand, the price is currently moving within a trading range, which is also a sign of the end of the downtrend and the beginning of a new cycle.
If the price wants to move as it did in the past, we should see an increase in the price of bitcoin in the coming days
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Comment:
#BTC closes the 4h candle below the resistance so we may retest the lower line one more time.
Comment:
BTC UPDATE:
One more time BTC closes the daily candle below $39k. It is still moving inside the falling wedge pattern currently, it is lying on the support 21ma in the 4h timeframe.
We can't say anything here because it's just going sideways so it will be better to wait for a breakout.
One more time BTC closes the daily candle below $39k. It is still moving inside the falling wedge pattern currently, it is lying on the support 21ma in the 4h timeframe.
We can't say anything here because it's just going sideways so it will be better to wait for a breakout.
Comment:
In a shorter time frame, BTC is forming this falling wedge pattern currently it is trying to break out this pattern so IMO it's better to wait for the 4h candle closing.
Stay tuned I will keep updating