Bitcoin analysis today (February 22) - Bottom-catching buying continues to appear 🤟🤟🤟
TODAY'S BITCOIN ANALYSIS D1 Bracket:
Despite yesterday's down day, #Bitcoin created a price bar with a long lower shadow and closed near the top, forming a bullish pinbar pattern reflecting buying from below. This is the second consecutive bullish pinbar in D1 #Bitcoin, showing sustained buying every time the price dips around the 50,000 mark. This behavior is good for the Buyers.
The cumulative sideways volatility structure is maintained, as #Bitcoin D1 continues its pattern of alternating up/down price bars. The longer the accumulation phase lasts, the more likely the volatility will be afterward.
Gradually higher highs and lows confirm that #bitcoin D1 is still in an uptrend, so the D1 #Bitcoin mainstream continues to be waiting to buy.
TODAY'S BITCOIN ANALYSIS H4 FRAME:
#Bitcoin H4 yesterday fell to retest the confluence zone #PPZ + round number 50,000 and received rebound support from here.
The #Bitcoin H4 chart structure continues to be cumulative as price maintains its movement within the trading range - representing a sideways phase of the market.
Today's dominant #Bitcoin H4 is still buying, including buying from the confluence of #PPZ + round number 50,000 below, or from the confluence of #PPZ + upward sloping trend line on the lower side.
Still avoid chasing #Bitcoin H4 if there are upside breakouts - breakouts - above to limit hitting the bull trap. There was a slight bull trap before, confirming there are signs of blocking selling force above.
$$$TODAY'S BITCOIN ANALYSIS OVERVIEW:
#Bitcoin D1 has its second consecutive bullish pinbar after yesterday, indicating sustained buying from below.
Today's #bitcoin H4 trend continues to be waiting to buy from the support confluences below, following the short-term price uptrend.
