#BITCOIN ⟶ HOW TO PROFIT FROM THE NEXT RALLY?!
🆕It's certainly concerning to see BlackRock, a financial giant, experience its first outflow from its Bitcoin Trust. This could indeed exert downward pressure on Bitcoin's price, especially in the short term, as it may signal a shift in sentiment among institutional investors.
⭐However, it's important to consider the broader context. While BlackRock's outflow is notable, other major asset managers are still seeing inflows. Furthermore, the long-term trajectory of Bitcoin is influenced by a multitude of factors beyond short-term capital flows.
⭐For instance, developments like the partnership between Merlin Chain and BitcoinOS, aimed at improving network scalability and efficiency, could significantly bolster Bitcoin's long-term prospects. Such advancements have the potential to drive increased demand and adoption.
✅Ultimately, while short-term market fluctuations are inevitable, it's crucial to maintain a long-term perspective. Technical analysis, combined with a deep understanding of fundamental factors, can provide valuable insights into Bitcoin's future price movements. The market will ultimately decide, and it's wise to stay informed and adapt to evolving market dynamics
👇👇👇
💎Daily #Bitcoin Analysis
🚀In our previous analysis, we predicted a bullish move from the weekly timeframe channel's bottom, which successfully occurred, reaching our initial target of 57877.90✅🤑
⚠️As previously mentioned, this target represents a significant resistance level (daily timeframe pivot: monthly resistance)❗️
✅Continuation of the bullish-Trend Scenario:
If the 57877.90 resistance is breached on the daily time-frame, we anticipate further growth towards targets of 63002.85, 66755.85, and ultimately 74537.70🚀
✅Lower Price Entry Scenario:
Given the strong resistance at the monthly level, a pullback is possible before a breakout.
However, if a correction occurs, we remain bullish and expect #Bitcoin to find support at one of the following levels👇
55743.20 (weekly support), 51676.75-52489.40, or 48483.55-50096.10, from which it can resume its upward trajectory towards the aforementioned targets
❌Stop-Loss for the Bullish Scenario: Our bullish view would only be invalidated if a weekly candle closes below 49000.00🔻🔻
🔄In such a case, we will provide an updated analysis🧐
...............................
💎#Bitcoin Analysis: ⏱4-Hour Timeframe
📌Based on the price touching the daily pivot point (monthly resistance) and the subsequent temporary weakness:
👉If the price breaks down on the 4-hour timeframe due to this contact and reaches the support zone of 55059.97 - 55743.20:
💰We can use the formation of a head and shoulders pattern to determine the subsequent direction of movement on this timeframe.
✅bullish scenario: If the price reaches the mentioned support zone, bounces, and breaks above the neck-line of the head and shoulders pattern, it confirms a continuation of the uptrend from this area.
✅temporary bearish scenario: If the 4-hour timeframe breaks below the head and shoulders pattern, it indicates a continuation of the bear-trend towards the second and third support levels of the main analysis. The price is expected to attempt to form a bottom at one of these support levels.
💎4-Hour Timeframe Analysis(
❗️There is also a possibility of a temporary rally to the resistance zone of 58556.01 - 58936.40, followed by a decline to the support zone of 55059.97 - 55743.20.
✅In this scenario, the head and shoulders pattern should be drawn with a positive slope, and we would wait for a breakout below the lower boundry or above the upper boundry to signal a temporary decline or a continuation of the growth.
❌This scenario remains valid until a significant breakout above the monthly #Bitcoin resistance occurs, which would confirm the continuation of the bull-trend from this level on the daily timeframe.
⭐However, it's important to consider the broader context. While BlackRock's outflow is notable, other major asset managers are still seeing inflows. Furthermore, the long-term trajectory of Bitcoin is influenced by a multitude of factors beyond short-term capital flows.
⭐For instance, developments like the partnership between Merlin Chain and BitcoinOS, aimed at improving network scalability and efficiency, could significantly bolster Bitcoin's long-term prospects. Such advancements have the potential to drive increased demand and adoption.
✅Ultimately, while short-term market fluctuations are inevitable, it's crucial to maintain a long-term perspective. Technical analysis, combined with a deep understanding of fundamental factors, can provide valuable insights into Bitcoin's future price movements. The market will ultimately decide, and it's wise to stay informed and adapt to evolving market dynamics
👇👇👇
💎Daily #Bitcoin Analysis
🚀In our previous analysis, we predicted a bullish move from the weekly timeframe channel's bottom, which successfully occurred, reaching our initial target of 57877.90✅🤑
⚠️As previously mentioned, this target represents a significant resistance level (daily timeframe pivot: monthly resistance)❗️
✅Continuation of the bullish-Trend Scenario:
If the 57877.90 resistance is breached on the daily time-frame, we anticipate further growth towards targets of 63002.85, 66755.85, and ultimately 74537.70🚀
✅Lower Price Entry Scenario:
Given the strong resistance at the monthly level, a pullback is possible before a breakout.
However, if a correction occurs, we remain bullish and expect #Bitcoin to find support at one of the following levels👇
55743.20 (weekly support), 51676.75-52489.40, or 48483.55-50096.10, from which it can resume its upward trajectory towards the aforementioned targets
❌Stop-Loss for the Bullish Scenario: Our bullish view would only be invalidated if a weekly candle closes below 49000.00🔻🔻
🔄In such a case, we will provide an updated analysis🧐
...............................
💎#Bitcoin Analysis: ⏱4-Hour Timeframe
📌Based on the price touching the daily pivot point (monthly resistance) and the subsequent temporary weakness:
👉If the price breaks down on the 4-hour timeframe due to this contact and reaches the support zone of 55059.97 - 55743.20:
💰We can use the formation of a head and shoulders pattern to determine the subsequent direction of movement on this timeframe.
✅bullish scenario: If the price reaches the mentioned support zone, bounces, and breaks above the neck-line of the head and shoulders pattern, it confirms a continuation of the uptrend from this area.
✅temporary bearish scenario: If the 4-hour timeframe breaks below the head and shoulders pattern, it indicates a continuation of the bear-trend towards the second and third support levels of the main analysis. The price is expected to attempt to form a bottom at one of these support levels.
💎4-Hour Timeframe Analysis(
❗️There is also a possibility of a temporary rally to the resistance zone of 58556.01 - 58936.40, followed by a decline to the support zone of 55059.97 - 55743.20.
✅In this scenario, the head and shoulders pattern should be drawn with a positive slope, and we would wait for a breakout below the lower boundry or above the upper boundry to signal a temporary decline or a continuation of the growth.
❌This scenario remains valid until a significant breakout above the monthly #Bitcoin resistance occurs, which would confirm the continuation of the bull-trend from this level on the daily timeframe.
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