BITCOIN PREVIOUS BULL MARKET =

As per the monthly chart,previous bull run occurred in 2017, where it hit an all-time high of $19800( around). after the peak,Bitcoin dump and hit a bottom of $3120. which was 84% down from its all-time high. This downturn made many investors panic and assume that Bitcoin's target would be $1000 and market prove wrong all of them and run back and Bitcoin made a strong bounce from the $3120 level. After the 2017 bull run, Bitcoin again reached $13850 in 2019 and it was pre halving run. then we all knOw black swan event happen and bitcoin again dump 70% and This time, it went down till $3913, after third btc halving occurred and we saw insan bitcoin run and hit all time high of 69000$.

Bitcoin's Current Scenario:

Bitcoin's last bull market all-time high was 69000$, then btc experienced a hard dump till 15480$, which was approximately 77% down from it s all-time high. In the current bear market scenario of 2022, Bitcoin tested a new bottom of 15480$, and many traders think btc will come 10000$ and market prove wrong all of them and run back and currently hit 31000$ mark. according to me its pre halving movement..and our main target is 42000$ and 48000$ bcoz there is fib 0.5 and 0.61 level but also may be btc can form head and shoulder if it will form then btc will reach 60000$ and then dump to 30000$ it will 50% dump and market shaking out weak hand then forth halving coming.. after halving we will see insan btc run and this classical pattern target will be 180000$ to 225000$.

lets go

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Technical analysis is a method of evaluating financial markets by analyzing statistical trends and price movements of financial assets such as stocks, currencies, commodities, and cryptocurrencies. It involves the use of charts, indicators, and other analytical tools to identify patterns and trends in market data, which can be used to make predictions about future price movements.

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Technical analysis assumes that the current price of a asset reflects all available information about that asset, including market trends, investor sentiment, and economic data. It also assumes that market trends tend to repeat themselves over time, and that patterns observed in the past can be used to predict future price movements.

Technical analysts use a variety of tools to analyze market data, including moving averages, trend lines, support and resistance levels, chart patterns, and various technical indicators such as the relative strength index (RSI), moving average convergence divergence , and stochastic oscillator.

The goal of technical analysis is to identify profitable trading opportunities based on the analysis of market data. However, it is important to note that technical analysis alone cannot provide a complete picture of market conditions, and that other factor such as fundamental analysis, and geopolitical events must also be taken.

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