BitcoinLong
Bitcoin Bullish Perspective Amidst Range-Bound Trading
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Hello,
Bitcoin is currently within the accumulation and re-accumulation range bound. Despite the possibility of a price dive towards the 50k zone, our bullish perspective on BTC remains unchanged. Corrections are a natural part of market cycles and often pave the way for further strength to emerge.
We are currently observing a potential descending broadening wedge formation on the chart, which can be seen as a bullish pattern. The chart provides a clear overview of the situation and can help inform your trading decisions.
The price has recently broken an important trendline and is currently attempting a pullback towards this trendline. We anticipate a rejection from this level, which could fuel a major drop towards an important demand area for significant bitcoin accumulation. We will provide more updates on this analysis to keep you informed without overwhelming you with unnecessary details.
Your support and engagement with this view are greatly appreciated.
Thank you!
Bitcoin is currently within the accumulation and re-accumulation range bound. Despite the possibility of a price dive towards the 50k zone, our bullish perspective on BTC remains unchanged. Corrections are a natural part of market cycles and often pave the way for further strength to emerge.
We are currently observing a potential descending broadening wedge formation on the chart, which can be seen as a bullish pattern. The chart provides a clear overview of the situation and can help inform your trading decisions.
The price has recently broken an important trendline and is currently attempting a pullback towards this trendline. We anticipate a rejection from this level, which could fuel a major drop towards an important demand area for significant bitcoin accumulation. We will provide more updates on this analysis to keep you informed without overwhelming you with unnecessary details.
Your support and engagement with this view are greatly appreciated.
Thank you!
Trade attivo
Currently, the price is forming a bearish flag pattern. Price has already completed the ABC short corrective waves. If the breakdown of the setup, as shown on the chart, occurs, we can expect a significant drop towards an important demand area. On the other hand, if the local support shown on the chart holds, it may lead to a potential test of the important major trendline resistance, which is located near the immediate strong resistance area.
Trade attivo
Price make first test on our strong Local support zone, let see what happens here, if you buy from this zone make your stop loss tight.Trade attivo
Bearish momentum remains strong, driving the price lower. We should closely monitor price action at the horizontal support level for potential double bottom formation. This key support zone could provide a critical inflection point, potentially signaling a trend reversal if respected. Trade attivo
Trade attivo
Price tested exactly the failed bearish pennant target on this drop, we should see some relief before further decline.Trade attivo
What next after this, probably a pullback and continuous dive down.Trade attivo
Trade attivo
Trade attivo
The spotted descending broadening setup still in progress.
Trade attivo
Still waiting to see BTC break above the descending structure.Trade chiuso: obiettivo raggiunto
Projected target achieved.
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