Makaveli Bitcoin TA is $60k but Bulls Must Win 48k to 52k R Area
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Bitcoin bulls made it to
48K target like expected If you followed my weekend Bitcoin analysis, I am sure you were expecting a post last weekend from me but one or two things made it impossible for me to post on tradingview.
I tried but each attempt failed with a notification that says sorry we can't publish your post ow, please try again later!
after several attempts, I ended up sharing the analysis on other platforms and skipped tradingview last weekend.
I am here now today to keep you updated on our Bitcoin bulls Journey to
54K - 62k flight so far.
we have a new obstacle discovered by the bulls and I will tell you all about it so you will know what to expect to play out in the rest of this week.
The 48k to 52k resistance is an area of importance on the chart and will most likely lead to the bulls push down by the bears after countless trial, but the bulls will still break that resistance later on the third or forth attempt.
The bears will push bulls but the bulls will keep coming back as a result of the new support below(the stronger a past resistance is the stronger the new support it will become for bulls as a result of the sideways that occured in the past in that zone and the price will find it easy to mostly take advantage of this to bounce instead.
This is also serve as a retest of the last breakout of that past resistance area(38k to 42k range.
The whole number effect is likely to play out on the 50k (even if price successfully cross above it the first time, price will be pulled back down) this will lead to a sideways movement on the resistance area(48k to 52k range)
If the bulls fail on 2 attempts,price will pull back to find more buyers to break that resistance from current bulls this support area 38k to 42k support area
($4000 is the height of the previous two sideways range area, so it is likely our new resistance area will also display the $4000 height sideways range on the new resistance currently forming.
If you wish to buy or have missed the last pump, Fomo is your worst enemy right now so please be patient as this pullback retest will play out most likely (over 65% chances )
but does that mean the bull run is over?
Hell no! instead think of 60k - 62k TA from this incoming pullback to 42k.
expect some sideways here at the current zone because price is currently below a resistance and we can see that from the current struggle by price
This is what I mean by this
We see the current candles formation will confirm if bears will succeed in forcing bulls to make a new lower high on the 4hrs chart
leading to a new market structure that will initiate the beginning of bulls push to 42k support.
Bitcoin bulls made it to
48K target like expected If you followed my weekend Bitcoin analysis, I am sure you were expecting a post last weekend from me but one or two things made it impossible for me to post on tradingview.I tried but each attempt failed with a notification that says sorry we can't publish your post ow, please try again later!
after several attempts, I ended up sharing the analysis on other platforms and skipped tradingview last weekend.
I am here now today to keep you updated on our Bitcoin bulls Journey to
54K - 62k flight so far. we have a new obstacle discovered by the bulls and I will tell you all about it so you will know what to expect to play out in the rest of this week.
The 48k to 52k resistance is an area of importance on the chart and will most likely lead to the bulls push down by the bears after countless trial, but the bulls will still break that resistance later on the third or forth attempt.
The bears will push bulls but the bulls will keep coming back as a result of the new support below(the stronger a past resistance is the stronger the new support it will become for bulls as a result of the sideways that occured in the past in that zone and the price will find it easy to mostly take advantage of this to bounce instead.
This is also serve as a retest of the last breakout of that past resistance area(38k to 42k range.
The whole number effect is likely to play out on the 50k (even if price successfully cross above it the first time, price will be pulled back down) this will lead to a sideways movement on the resistance area(48k to 52k range)
If the bulls fail on 2 attempts,price will pull back to find more buyers to break that resistance from current bulls this support area 38k to 42k support area
($4000 is the height of the previous two sideways range area, so it is likely our new resistance area will also display the $4000 height sideways range on the new resistance currently forming.
If you wish to buy or have missed the last pump, Fomo is your worst enemy right now so please be patient as this pullback retest will play out most likely (over 65% chances )
but does that mean the bull run is over?
Hell no! instead think of 60k - 62k TA from this incoming pullback to 42k.
expect some sideways here at the current zone because price is currently below a resistance and we can see that from the current struggle by price
This is what I mean by this
We see the current candles formation will confirm if bears will succeed in forcing bulls to make a new lower high on the 4hrs chart
leading to a new market structure that will initiate the beginning of bulls push to 42k support.
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