empty
 
 
27.02.2024 02:45 PM
BITCOIN: Technical analysis of the situation

Bitcoin

This image is no longer relevant

Higher Timeframes

The past week unfolded in uncertainty. The ascent was halted, and Bitcoin consolidated to ultimately form a signal for the continuation of the trend. Yesterday, with the resumption of bullish activity, the market surged towards the historical highs of 2021 at 64,768.80 and 68,959.73. The outcome of interactions with these levels will determine the further potential of Bitcoin as a whole.

The inability to sustain the upward movement and the loss of current positions will bring back bearish perspectives. In the event of a decline, the market will encounter support from the golden cross of the daily Ichimoku cloud at 53,921 – 51,563 – 49,779 – 47,994, now reinforced by the weekly short-term trend (47,926).

This image is no longer relevant

H4 – H1

On lower timeframes, an upward movement is developing. Bulls have already tested the first resistance of classic pivot points (56,121) today and are currently in a correction zone. The resumption of the upward trend within the day will lead to testing the next resistances at R2 (57,585) and R3 (60,191). However, if the correction updates its lows and the decline continues, the next intraday targets can be marked at the boundaries of key levels 53,515 (central pivot point of the day) and 51,970 (weekly long-term trend).

A breakthrough of key levels may alter the current balance of power. Furthermore, a decline of this magnitude could provide a solid foundation for concluding the ascent on higher timeframes and for the formation of a reversal candlestick pattern on the daily and weekly timeframes.

***

The technical analysis of the situation uses:

Higher timeframes - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)

Evangelos Poulakis,
InstaForex के विश्लेषणात्मक विशेषज्ञ
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    कॉन्टेस्ट में हिस्सा लें
  • चैन्सी डिपॉजिट
    $ 3,000 के साथ अपना खाता जमा करें और प्राप्त करें $5000 अधिक!
    में नवंबर हम आकर्षित करते हैं $5000 चैंसी डिपॉज़िट में
    ट्रेडिंग अकाउंट में $ 3,000 जमा करके जीतने का अवसर प्राप्त करें इस शर्त को पूरा करके आप प्रतियोगिता में भाग ले सकते हैं
    कॉन्टेस्ट में हिस्सा लें
  • ट्रेड वाइज़, विन डिवाइस
    कम से कम $500 के साथ अपने खाते में टॉप अप करें, कॉन्टेस्ट के लिए साइन अप करें और मोबाइल डिवाइस जीतने का मौका पाएं।
    कॉन्टेस्ट में हिस्सा लें
  • 100% बोनस
    अपनी जमा राशि पर 100% बोनस प्राप्त करने का आपका अनूठा अवसर
    बोनस पायें
  • 55% बोनस
    अपनी प्रत्येक डिपॉजिट पर 55% बोनस के लिए आवेदन करें
    बोनस पायें
  • 30% बोनस
    हर बार खाता टॉप अप करने पर 30% बोनस प्राप्त करें
    बोनस पायें

अनुशंसित लेख

अभी बात नहीं कर सकते?
अपना प्रश्न पूछें बातचीत.
Widget callback