Bitcoin is forming this bullish flag pattern on the daily chart, and we have a lifetime opportunity to buy Bitcoin at the bottom of the flag. What's more, we have a long-term trendline starting in October 2023, which is another reason to buy Bitcoin in confluence with multiple technical indicators. A lot of people are calling for Bitcoin winter, but I don't think so. I see the recent price action as a great buying opportunity on the other side.
It is always important to do an Elliott Wave technical analysis to see the full picture. From my point of view, Bitcoin has formed and completed the WXYXZ triple-three corrective pattern inside this bullish flag. What you want to do as a trader is trade a breakout above the flag or buy at the bottom of the flag, potentially trading a breakout of the last Z wave.
Another reason why I think Bitcoin is bottoming out is the chart of Ethereum. This is probably one of the best indicators for Bitcoin, so we cannot miss doing analysis on it. You can check out my analysis of ETH in one of my previous posts, but I can tell you now that the crash was pretty strong (more than 30%) and we are in a bull market, so we definitely want to buy the DIP and prepare for another huge wave to the upside.
Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
It is always important to do an Elliott Wave technical analysis to see the full picture. From my point of view, Bitcoin has formed and completed the WXYXZ triple-three corrective pattern inside this bullish flag. What you want to do as a trader is trade a breakout above the flag or buy at the bottom of the flag, potentially trading a breakout of the last Z wave.
Another reason why I think Bitcoin is bottoming out is the chart of Ethereum. This is probably one of the best indicators for Bitcoin, so we cannot miss doing analysis on it. You can check out my analysis of ETH in one of my previous posts, but I can tell you now that the crash was pretty strong (more than 30%) and we are in a bull market, so we definitely want to buy the DIP and prepare for another huge wave to the upside.
Let me know what you think about my analysis in the comment section, and please hit boost and follow for more ideas. Trading is not hard if you have a good coach! Thank you, and I wish you successful trades.
Note
After 5 hours of my fresh analysis, Bitcoin is pumping massively! I hope you took this lifetime opportunity. Great start to the month. Make sure you follow my account so you don't miss my next ideas!Note
+7% in a single day! The daily candle is bullish; expect continuation.Note
We have to take a look at the weekly candles. We have a bullish hammer with a long wick (rejection). It indicates that the selling pressure was high, but the bulls were able to quickly step in. This is a strong bullish candle.Note
Bull market is strong. Institutional investors are buying ETFs.Note
71k is the next target, it will probably be fast and quick. Do not expect some pullbacks.Note
Bitcoin is up almost 10% since my call. Keep holding, the trend is strong!Note
Bitcoin is completely breaking out of the descending parallel channel! The uptrend is now confirmed.Note
Bitcoin is up 10% since my call. Good trade!Note
New analysis:
Note
This is my very successful idea. The price is pumping!
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💡Join my VIP group (signals, my trades)
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✅Trade crypto here: All countries + no KYC
t.ly/5SUp9
xanrox.org/premium
✅Trade crypto here: All countries + no KYC
t.ly/5SUp9
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.