..//As I mentioned previously 3 days ago, regarding the 4-hour range, I said that there is a possibility of the existence of a compatible triangle pattern, and in this pattern it is not possible to predict what the break will be like. If the break is to the upside, the technical target will be the $74,738 level, and if the break is To the downside, the target will be $61,811, and Bitcoin is now trying to break the pattern upward, but we must make sure that the break is real. The break has been confirmed on the 5-minute time frame, but this is not enough. We must see confirmation at least in the 1-hour time frame. The possibility of returning within the pattern still exists...
...If confirmed, the target will inevitably be the $74,738 level, but we must beware of imaginary movements whose goal is to withdraw liquidity from the market...
..//With regard to the daily range, as we indicated in the recent analyses, Bitcoin broke upwards in the giant bullish flag pattern, and as I said before, it is a bullish pattern par excellence, and the full technical target for this pattern will be the $87,000 level, after which we can see the $90,000 levels, but recent events have had a significant impact. Relative to continuing to rise...
..//The most important levels to monitor are the $62,718 level, then we have the $59,500 level, and any new loss to the $59,500 level means that the decline will continue until $52,000 and then the $48,000 level, and the 48,000 level means a 35% decline in relation to the highest historical peak. For Bitcoin, this percentage is healthy, safe, and very appropriate for Bitcoin until we see new historical peaks above the $100,000 levels, and any decline of more than 30 or 35% means that Bitcoin is at risk of collapsing to the $30,000 levels...
..//In any case, Bitcoin is still bullish as long as the price movement remains above the $65,000 level, and the next ascending levels are $71,000, reaching levels greater than $74,000, and this will happen within days, and as I said previously (which is actually happening), there is a possibility that Bitcoin will continue for some time. Time is moving sideways until alternative currencies, led by Ethereum, catch up...
..//This article is not financial or investment advice and is just a modest technical analysis and also relatively basic..
..//Even if there is a strong decline, we must not lose the $59,500 level for more than 24 hours because it is an important key level for the upward movement, and losing it again will cause a drop to $52,000 and then $48,000..
..//The break of any level must be certain and not just an imaginary move..
..//The upward movement will continue as long as Bitcoin is above the level of $65,000, taking into account the current global events and their developments, especially the repercussions taking place in Iran and do not forget also Slovakia and Ukraine in addition to China and Taiwan...
..// good luck for everbody
