Bitcoin -> Bullish Move Ahead!

2023년 8월 11일

Hello Traders and Investors,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of Bitcoin💪

A couple of months ago Bitcoin perfectly retested and already rejected the previous cycle high from 2018 and also the 0.786 fibonacci level so the recent rally was quite expected.

You can also see that Bitcoin is approaching the weekly support trendline of the obvious rising channel so also from a weekly perspective everything is pointing towards more continuation towards the upside.

I am only waiting for daily market structure on Bitcoin to shift back to bullish and if we see a break and retest of the current resistance level then I also do expect another daily bullish rally.

Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint📈

Thank you for watching and I will see you tomorrow!

My previous analysis of this asset: