LIVETrayoEra
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Bearish
BTC TECHNICAL ANALYSIS --- HISTORICAL DATA
2020-2021 BULL MARKET
October 2020 BTC surged from 10k to ATH of 64k on April 2021 (+600%) in six months.
From that point on BTC faced strong resistance and reversed to bearish trend. Downtrend continued for more than two months BTC price dropped to 28k from all time of 64k (-55%) and established a strong support at 28k-30k. Price consolidated between 28k-30k for a period of one month and later broke out and entered into a strong uptrend (July 2021). 5 months later reached new all time high of 69k thereafter ushered in 2022-2023 bear market.
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2024 BULL MARKET
BTC is facing strong resistance between 70- 73k. Consolidation is between 58k-68k. The first phase of 2024 bull market BTC dropped from 73k to 58k (-20%) compared to 2020-2021 bull market first phase of (-55%). Weekly BTC chart puts BTC in bearish signal with a potential drop to 45k-50k before the start of the second phase in search of 2024 new all time high. $
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CONCLUSION
Is BTC trying to follow historical trajectory??. NO one knows. Time will tell.
NOT financial advise. Do your own research before investing. #staysafe $BTC
2020-2021 BULL MARKET
October 2020 BTC surged from 10k to ATH of 64k on April 2021 (+600%) in six months.
From that point on BTC faced strong resistance and reversed to bearish trend. Downtrend continued for more than two months BTC price dropped to 28k from all time of 64k (-55%) and established a strong support at 28k-30k. Price consolidated between 28k-30k for a period of one month and later broke out and entered into a strong uptrend (July 2021). 5 months later reached new all time high of 69k thereafter ushered in 2022-2023 bear market.
-------------------------
2024 BULL MARKET
BTC is facing strong resistance between 70- 73k. Consolidation is between 58k-68k. The first phase of 2024 bull market BTC dropped from 73k to 58k (-20%) compared to 2020-2021 bull market first phase of (-55%). Weekly BTC chart puts BTC in bearish signal with a potential drop to 45k-50k before the start of the second phase in search of 2024 new all time high. $
------------------------
CONCLUSION
Is BTC trying to follow historical trajectory??. NO one knows. Time will tell.
NOT financial advise. Do your own research before investing. #staysafe $BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
57,984.01
-3.94%
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