Hello Traders,
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin is now actually breaking below the previous support zone, creating bearish market structure, so at least for the short-term, everything seems quite bearish.
However you can also see that Bitcoin had a quite massive pump recently, the emas also shifted towards the upside, so I just expect a short term correction to the next support zone and then the longer term continuation towards the upside.
On the daily timeframe you can see that the market is basically in free-fall mode, so I am now just waiting for a retest of the next support zone at the $18500 and if we then have some bullish confirmation, I do expect the next impulse towards the upside from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
welcome to this free and educational multi-timeframe technical analysis.
On the weekly timeframe you can see that Bitcoin is now actually breaking below the previous support zone, creating bearish market structure, so at least for the short-term, everything seems quite bearish.
However you can also see that Bitcoin had a quite massive pump recently, the emas also shifted towards the upside, so I just expect a short term correction to the next support zone and then the longer term continuation towards the upside.
On the daily timeframe you can see that the market is basically in free-fall mode, so I am now just waiting for a retest of the next support zone at the $18500 and if we then have some bullish confirmation, I do expect the next impulse towards the upside from there.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
