Bitcoin Analysis, Crypto To The Moon #43

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2 years ago

DISCLAIMER: I am not a financial advisor nor certified analyst. All contents discussed on this blogpost are solely my own personal views and for Trading education/entertainment purposes only . Do your own research and due diligence.

With that being said, let's get into it;

1 Hour Timeframe.

From where we stopped last time, My analysis has been followed and respected crucially by the candlesticks on BTC chart.

After a retest on the thin yellow trend line,we made our way even more closer to existing the symmetrical triangle. As I've said before, the point of break out determines it being bearish or bullish. Fortunately, we were bullish on our point of breakout.

After the break out,we eventually retested a resistance zone and made our way respecting the former thin yellow trend line which acted as a resistance zone back then, but this time, it played out as a support zone as it made us increase in price and go bullish.

We're currently at a point were we retraced this time 2 trend lines both the thick and thin yellow trendlines which both acted as a support zone as we went bullish reaching for a resistance zone.

It seems to be as though we recently retested a resistance zone and might go bearish for a short term hopefully.

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