BTC
📈 Bitcoin showed significant strength, rising 6% and potentially signaling a renewed upward momentum after a period of consolidation.
⏳ While the weekly trend remains bullish, the daily chart shows a completed pattern facing resistance around $96k-$97k, suggesting a possible pullback.
📉 A potential pullback towards the moving average around $87k could present a better entry point for those looking to add to positions or initiate new ones.
@marcosemmimfp:
“We reached Bitcoin. Bitcoin, as such, had a complete pattern; it was struggling to rise, however, it gained strength. It had risen 2%, needed to continue rising more. It did very well, 6%. This, this is Bitcoin woke up. When you tell me Bitcoin started, when Bitcoin started, Bitcoin started for me is this. This is starting. Okay, we are good in Bitcoin. Yes. Let’s see, on the weekly chart, we continue to be bullish; in the indices too, we continue to be bullish, nothing broke. In the S&P, we continue to be bullish also on a weekly chart. Uh, here basically 97, 96, we have resistance. That is, here this has a complete pattern, right? This still has a pattern to develop and an ADX that is below the 23 point and should continue rising. And the only way for the drawing in the ADX and momentum to keep doing that is for you to rise another two, another three here and rise a bit more. Yes, if you rise basically like this and in the coming days we start with this, the same thing you did here doesn’t work. Okay. What will happen? Most likely, you will have resistance in this zone. You will come with a fall to the average, and 87 would be the support zone, more or less. That would be the support zone. And from there, upwards. I bought Bitcoin again there today because I’m buying, I’m doing the DCA thing. Yes, in fact, I didn’t even check how much I am, but I must be. Let’s see, I was gaining 15, now with the purchase I made, I stayed neutral. I need it to fall much more, evidently. I need to catch a bearish period, it seems, for it to really be worth it.”
Watch the exact part of the video where @marcosemmimfp talks about Bitcoin here:
Watch the video on YouTube
Read more articles analyzing Bitcoin (BTC) at the provided link. BTC stock.
