#BITCOIN ON THE VERGE OF A BULL RUN?!
⏳Based on the 4h time-frame:
👉After breaking the 4h timeframe bear-trend-line, BITCOIN experienced a sharp rally.
🔰Upon encountering its first major resistance level, it began to decline.
🔰However, this decline was slow and gradual (within a bearish channel).
🔰Therefore, BITCOIN may re-enter an bullish phase.
🚀First Growth Scenario: If it grows from this area, namely the mid-line of the bearish channel, then the condition for continued growth is a breakout above the bearish channel.
🚀Second Growth Scenario: If it loses the mid-line support and continues to decline, the three support levels of 57753.93, 56819.24, and 55382.62 could cause the decline to halt and growth to resume.
🎯Growth Targets:
Target 1: 62296.44-62731.30
Target 2: 64638.49
Target 3: 70564.38-71976.68
❌I will discuss the stop-loss for the growth scenario and the condition for a shift from a bearish to a bullish phase in the daily timeframe image below.
.....................................
⏳Based on the Daily time-frame:
🔰"Stop-loss for the growth scenario that I mentioned in the 4-hour timeframe (image above):
It is a breakout below the daily timeframe bearish channel.
🔰In this case, the growth scenario is nullified and we enter a new bearish phase."
👉After breaking the 4h timeframe bear-trend-line, BITCOIN experienced a sharp rally.
🔰Upon encountering its first major resistance level, it began to decline.
🔰However, this decline was slow and gradual (within a bearish channel).
🔰Therefore, BITCOIN may re-enter an bullish phase.
🚀First Growth Scenario: If it grows from this area, namely the mid-line of the bearish channel, then the condition for continued growth is a breakout above the bearish channel.
🚀Second Growth Scenario: If it loses the mid-line support and continues to decline, the three support levels of 57753.93, 56819.24, and 55382.62 could cause the decline to halt and growth to resume.
🎯Growth Targets:
Target 1: 62296.44-62731.30
Target 2: 64638.49
Target 3: 70564.38-71976.68
❌I will discuss the stop-loss for the growth scenario and the condition for a shift from a bearish to a bullish phase in the daily timeframe image below.
.....................................
⏳Based on the Daily time-frame:
🔰"Stop-loss for the growth scenario that I mentioned in the 4-hour timeframe (image above):
It is a breakout below the daily timeframe bearish channel.
🔰In this case, the growth scenario is nullified and we enter a new bearish phase."
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