Bitcoin Analysis {01/05/2024}
First of all, I want to introduce myself, my name is Lenon, but my nickname on the networks is "Lenonmc21", I am a Blockchain and #Criptomonedas enthusiast, as well as a trader who has been studying this fabulous profession for years, and who From this moment on, he wants to share with you an analysis of the most important Cryptocurrencies in the entire ecosystem among other very interesting things about this world. However, to start, I will share a #analisis del $BTC in the medium and long term, taking into account that, My way of analyzing is very simple, I only applied (Market Structure and Price Action), accompanied by (Cycle Closings), which allows me to see the complete map of what the price most likely wants to do, my operation It is in high temporalities, like 1s, 1d and h4 at a minimum, but it does not mean that I do not do scalping. In this sense, I will be sharing my detailed analysis, so, if you want to know what #Bitcoin: can do soon, don't worry. takeoffs from my profile, because I will also teach how to make #BitcoinTrading from scratch: Chart of #BTC in 1s As you can see the price has been breaking upward zones, which caused the "Market Structure" to go from bearish to bullish, in this sense and for the who are newer to this, the price moves between Supports and Resistances, regardless of the news that may affect the market sentiment. So, when analyzing, the only thing we have to look at is, where we are, to know where we are going. In this case, what the price of $BTC did was look for the next resistance, which is where it is at this moment, so if the price manages to break this zone between $45,000 and $47,000 , it will most likely look for the next one between $66,000 and $69,000.BTC 1d chartThe price on 1d charts is consolidated, which is natural, since it is in a decision-making zone, however, With the strength he's been going up, I'd say he'll most likely break through that zone and make his way to the target I mentioned earlier.RecommendationsYou must always wait for the price to break through the zones, and wait for the retest of the same to buy, this break confirms the dominance of the buyers. If the price makes a downward break of the last bullish impulse and makes a downward structure, There is a change in trend, not before, the rest may be a "Cycle Closing"