The bulls won! They pushed prices above their historic highs, and ETFs also performed remarkably well, backed by securities houses. A beautiful victory! But now, who will be the next opponent?
Just like gold, is Bitcoin (BTC) fulfilling its role as a protective reserve? Given recent news, it appears so. Everyone is rushing into cryptocurrency, just like they rush into gold when things in the world seem to go off the rails. Curious, isn't it?
Let's analyze the graph:
Long term: There are no signs of a change in direction in the long term. The uptrend remains firm and strong, pointing towards new highs. Impressive, isn't it?
The SETUP used does not indicate a weakening of this trend. Therefore, we do not expect abrupt corrections (or disasters) at the moment, unless something unexpected happens (lol) and the market decides to treat BTC as a punching bag (regulation, government interference, etc.). See the image below, with all SETUP targets achieved, including forming the “Golden Triple of SETUP”. Incredible strength!
Mid-term: The dispute between bulls and bears continues. Sometimes bulls thrust their horns upwards, while other times bears lunge downwards.
The corrective channel outlined previously is being respected, and there are signs that we may have an H&S (Head and Shoulders) pattern. Interesting, isn't it?
An important warning: The bears appear to have set a trap for the bulls. The loss of the 66.5K range makes room for corrections up to 42K. For this to happen, prices just need to start working below 70K, especially if this week's candle closes below that level. See the image below.
Short term:I leave a beautiful image below for you to contemplate. Graphical analysis is really fascinating, isn't it?
Do your analysis and good business! Be aware.
If you buy, use Stop Loss.
See also other graphical analyses. 📈🚀
Just like gold, is Bitcoin (BTC) fulfilling its role as a protective reserve? Given recent news, it appears so. Everyone is rushing into cryptocurrency, just like they rush into gold when things in the world seem to go off the rails. Curious, isn't it?
Let's analyze the graph:
Long term: There are no signs of a change in direction in the long term. The uptrend remains firm and strong, pointing towards new highs. Impressive, isn't it?
The SETUP used does not indicate a weakening of this trend. Therefore, we do not expect abrupt corrections (or disasters) at the moment, unless something unexpected happens (lol) and the market decides to treat BTC as a punching bag (regulation, government interference, etc.). See the image below, with all SETUP targets achieved, including forming the “Golden Triple of SETUP”. Incredible strength!
Mid-term: The dispute between bulls and bears continues. Sometimes bulls thrust their horns upwards, while other times bears lunge downwards.
The corrective channel outlined previously is being respected, and there are signs that we may have an H&S (Head and Shoulders) pattern. Interesting, isn't it?
An important warning: The bears appear to have set a trap for the bulls. The loss of the 66.5K range makes room for corrections up to 42K. For this to happen, prices just need to start working below 70K, especially if this week's candle closes below that level. See the image below.
Short term:I leave a beautiful image below for you to contemplate. Graphical analysis is really fascinating, isn't it?
Do your analysis and good business! Be aware.
If you buy, use Stop Loss.
See also other graphical analyses. 📈🚀
