Bitcoin to surprise most with move to $72k (again)

3 Tem 2024

** Short term analysis, 8hr chart **

The “Bitcoin to surprise most with move to $70k” idea in the month of May (below) used a very simple technical analysis technique. Something every aspiring chart analyst should know:

1) Support & resistance.
2) The trend.

Of all the questions Without Worries receives, 99% are answered just by observing those two mysterious phenomena.

On the above 8hr chart price action has been in a resistance downtrend since the start of June. That downtrend resistance is broken. On trend, price action has printed a higher low.
Price action support & resistance AND trend changes are also applicable to RSI. The combination of those observations on price action AND RSI is important.

Is it possible price action continues lower to 56k as some are calling for? Sure.
Is it probable? No!

Ww


Bitcoin to surprise most with move to $70k

3 Tem 2024

İşlem aktif

Ignore the media.
Ignore the FUD.
Ignore the trolls.

Do not ignore the chart.

Daily

5 Tem 2024

İşlem kapandı: durdurma seviyesi

Support is sliced through like butter!

5 Tem 2024

İşlem aktif

You know what, this is not what it seems. Starting to look like a massive rug pull.

16% correction in the last 4 days. Look left. Over the last 5 years such corrections inside a short window of time, this happens. A v-shaped recovery. (excluding the pandemic correction of 2022).
But only when price action was in a bull market. We remain in a bull market.

6 Tem 2024

Not

A little observation on the 2-day chart which prints today and would confirm nicely with the chart directly above.

Notice the Dragonfly DOJI currently printing? Look left, black circles.

19 Tem 2024

İşlem aktif

5k to go....

25 Tem 2024

İşlem aktif

See the candle print for today's daily chart?
Powerful enough to catapult price action to target.