➕Positive➕ and ➖Negative➖ signs of Bitcoin🤓

10 Mar 2023

Hi everyone.👋

Today I want to share with you a complete analysis of Bitcoin.

When we talk about the complete analysis, then we have to deal with the fundamental analysis of Bitcoin in addition to the technical analysis.

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Fundamental;

So let's start by reviewing the news that has affected Bitcoin and the cryptocurrency market in the last 24 hours.

I must say from the beginning that all the news in the last 24 hours has been ➖negative➖.

Don't judge too soon and stay with me until the end of this post. Thank you.🙏🌹

The ➖negative➖ news of the last 24 hours are:

• Bitcoin fell below $20,000 after 2 months, and after 56 days the Fear and Greed index re-entered the Fear zone.
  

• In the 2024 US budget, Joe Biden's government has proposed a 30% tax on the electricity used to mine Bitcoin and other cryptocurrencies.
  

• New York's attorney general General Letitia James on Friday sued crypto exchange KuCoin for failing to register with the state before letting investors buy and sell cryptocurrencies on its platform, as part of her effort to rein in what she calls "shadowy" cryptocurrency companies
  

• The Hedera platform suspended all its activities after confirming the hacker attack.
  

• Blockchain.com suspends its asset management subsidiary launched in April.
  

• Huobi’s HT Token Suddenly Falls 93%, Then Rebounds Just as Quickly.
  

It seems that the results of all these negative news in the last 24 hours have been applied to the Bitcoin chart, and I expect Bitcoin to rebound from its current price and complete its pullback to the support zone.

Now that we talk about the support zone, it is better to go to the technical analysis and see what results we get.

Stay with me in this section.👍

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Technical:

Regarding technical analysis, let's take a look at the ➖negative➖ and ➕positive➕ signs in the chart.

➖Negative signs➖:

• Sell signal by 50-SMA and 50-EMA.
  

• Loss of 🟢support zone($21,600-$20,940)🟢.
  

• Completion of 5 impulse bitcoin waves at $25,250.
  

➕Positive signs➕:

• Bitcoin is moving in price Reversal Zone(PRZ).
  

• Bitcoin has reacted positively to the 200_SMA.
  

• The fall of Bitcoin to the import support line can act as a pullback to this line.
  

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Conclusion:

According to the explanations I gave in the fundamental and technical sections, I expect Bitcoin to grow to at least the lost support area and complete a pullback to this area before starting to fall again.

The best area to finish the decline can be the intersection of the important support line and the uptrend line, which is the intersection of the 🟢heavy support zone($18,700-$17,810)🟢.

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Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy, this is just my idea, and I will gladly see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe

11 Mar 2023

Not

Agree with me❗️❓

11 Mar 2023

Not

Will PRZ hold the BTC❗️❓

12 Mar 2023

Not

PRZ hold BTC

Running well

13 Mar 2023

Not

Update