Hello Dear traders, Let's dive into the Bitcoin chart with a detailed Gann analysis similar to the earlier breakdown for Dogecoin. This chart integrates Gann theory, showing price and time levels via angles, grids, and cycles.
📊1. Gann Grid and Levels Overview The chart uses Gann's principle of balancing price and time with geometric relationships:
Horizontal Levels: Derived from specific price harmonics (0°, 30°, 60°, etc.) Diagonal Lines: Represent price momentum at certain angles regarding time and price by the grid. Vertical Lines: Time cycles marking significant trend shifts or price reversals. 2. Key Gann Levels The chart originates from 0° (Base level: $15,479.25) and builds upward harmonic price levels. These levels are key zones for support and resistance.
Degree Price Level Significance 0° $15,479.25 Base level; a significant low (origin point). 30° $19,904.21 Minor support/resistance near cycle start. 60° $24,884.73 Important level; tested during upward moves. 90° $30,420.81 Key psychological resistance during early breakouts. 120° $36,512.44 Important support/resistance midway up. 150° $41,519.63 Indicates price accumulation or consolidation. 180° $50,362.37 Critical level; halfway point of the full cycle. 210° $58,120.67 Breakout zone for strong upward trends. 240° $66,434.53 Strong resistance; prior highs get tested. 270° $75,303.94 Major resistance level (¾ of the full rotation). 300° $84,728.91 Resistance near extended bullish cycles. 330° $94,709.42 Overbought zone if price reaches quickly. 360° $105,245.50 Completion of the full price cycle.🤑
3. Current Market Position The current price of Bitcoin is $101,135.80, sitting near the 330° level ($94,709) but pushing toward 360° ($105,245).
Key Observations: Bullish Trend:
Price has broken through major resistance levels such as 240° ($66,434) and 270° ($75,303). This indicates a strong bullish continuation. Approaching the 360° Level:
The 360° level at $105,245.50 represents the completion of a full cycle. This zone could act as strong resistance where price might stall or consolidate. Potential Retracement:
If the price fails to sustain above 330° ($94,709), expect a pullback toward 300° ($84,728) or even 270° ($75,303). These zones would provide buy opportunities during a retracement. 4. Diagonal Gann Angles The diagonal lines represent price trends at specific angles, reflecting momentum:
Current Angle Analysis: The price is maintaining an upward diagonal angle, suggesting sustained bullish momentum. If price dips below this angle, it could signal a trend reversal or slow-down. 5. Time Cycle Analysis The vertical dashed lines represent Gann's time cycles, marking key turning points or price accelerations.
Notable Time Cycles: Dates Marked on the Chart
6. Trading Plan Based on the current market position and Gann analysis:
Bullish Setup: Entry: Enter long on dips above the 300° level ($84,728) for continuation. Targets: First target: $94,709 (330°). Second target: $105,245 (360°). Stop Loss: Below the 270° level ($75,303). Bearish Setup: Entry: Enter short if price fails to hold above $94,709 (330°). Targets: First target: $84,728 (300°). Second target: $75,303 (270°). Stop Loss: Above the 360° level ($105,245). 7. Final Notes 360° ($105,245) is a critical level:
A breakout above could indicate further bullish momentum into an expansion phase. However, this level could act as strong resistance where a reversal occurs. Time Cycles:
Watch for trend changes in January 2025 and May 2025. Let me know if you need further clarification 🚀 Wish you best of Luck Trading