Welcome at bitcoin today
Hello folks, one more day! The first apologies since I have had a few days that I could not update the blog. Let's see what has happened these days with Bitcoin and what we can find in the future!
As you well know, the price has bounced in the 44-45k area several times, this shows us that it is a very strong support on which we can lean and that the bears will have a hard time breaking.
Now we see the price bounce off these support zones, trying to look for an uptrend that will bring us back to the highs. As we talked about in the previous post, this fall will stop the speed at which bitcoin was growing, but once again we repeat that our objective is still clearly bullish!
What can we expect?
Here's a picture of the current price trends, and how we can identify that a bullish pattern is forming. We are going to comment on which points we have to pay special attention to.
After analyzing the price, we can clearly see that the commented bullish pattern is formed, and that we will have to pay special attention when the price breaks this pattern, whether it is up or down, although in my opinion it is clearly bullish.
Our first resistance is at 49k and it is an important point as it crosses the downtrend of the previous 2 higher highs. I repeat, it is a very important point and that breaking it would leave us in a very optimistic position on bitcoin. In addition, in my opinion, this would ensure that we have found a double bottom on the chart, another clearly bullish pattern that will gradually return us to the highs.
After exceeding 49k (I hope the bulls get it :D) the next target would be around 52k, as you can see in the graph.
The vast majority of news is related to ADA and its extreme pump. No significant comments or facts have been shown around bitcoin since the MS purchase.
See you tomorrow guys :)
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