Price is facing bearish pressure from our descending trend line where we could see a further drop here.
Check video for my latest thoughts on the Bitcoin ongoing uptrend. Video ended up being longer than expected once again (trying to target the 7min duration)
Price is holding nicely above our trend line, in line with our fibonacci confluence levels where we could see a bounce from here. Ichimoku cloud and 20 period EMA are showing signs of bullish pressure as well.
#BTC an important quick analysis
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As weekly and monthly uptrends still intact as such investment strategy bias remain long on any bounces. However, we need to be aware that there are down pressure building up for awhile, including some volume weakness at tops, positive funding rates on perpetual swaps and general feel of the commitment of traders repot .
mid to long term BTC analysis using Gann analysis leave me a comment if you have any questions
Key takeaways: - bitcoin resistance becomes support, potentially signalling another large rally - ETH hits new 2020 high and nears target - ETH gas fees rising places an increase in the demand for ETH - Dave Portnoy buys bitcoin for the first time
Daily now on a downtrend but Weekly still not looking bearish. Dropping few trendlines and S/R levels for basis. BTW let me know if videos are too long. I feel i probably could talk less and make these vids shorter. Let me know your feedback. Maybe I'm missing something or you have a good suggestion for me. Re my chart. Do you agree? disagree? let me know...
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Key Takeaways: - Second highest monthly closein bitcoin history (bullish) - long dotted trendline shows strong support for the second time - on track to make new 2020 highs -follow @Chelle_coin on twitter for market updates Why do market analysis? Price is a proxy for public interest. As public interest rises, it becomes easier for cryptocurrency projects to...
Check video for latest thoughts on Bitcoin
Have a great day
Hope this idea will inspire some of you ! Don't forget to hit the like/follow button if you feel like this post deserves it ;) That's the best way to support me and help pushing this content to other users. Kindly, Phil