Bitcoin analysis today (February 20) - Deep price compression appears. Strong fluctuations near? 🤔🤔🤔
Yesterday's volatile day showed that #Bitcoin is deep in price compression, which could be the trigger for a strong move here. $$$
Previous trade idea results: The idea of waiting to buy #bitcoin from the support below could not be activated yesterday because the price had not reached the buy zone for the day.
ANALYSIS OF BITCOIN FRAMEWORK D1:
#Bitcoin had a down day yesterday, but the narrow decline range did not indicate significant selling pressure. The focus is on the range of yesterday's trading day. That D1 bar has the narrowest range compared to many previous D1 bars, creating the price action pattern of NRB - Narrow Range Bar - narrow range price bar. NRB reflects deep price compression behavior, which can be a trigger point for price movements if there is a break from the top/bottom of the NRB. Famous NRB patterns are NR4 and NR7 - which are the narrowest price range bars compared to the last 4/7 days. The recent volatility of #Bitcoin is sideways, as the recent D1 bars are increasing/decreasing. intertwine. With the arrival of NRB, there may be an explosion of volatility that pushes prices out of this mixed phase. Because #Bitcoin has increased in price over the past period without a significant correction, a pull back is possible. With the chart structure of #Bitcoin D1 being bullish, The main idea is still to wait for the price to drop to buy from the supports below.
ANALYSIS OF BITCOIN H4 FRAME:
#Bitcoin H4 yesterday continued to move inside the price range, reflecting the continuation of the current sideways accumulation period. Since the main trend of #Bitcoin H4 is still bullish in the trend structure, expect This is to continue waiting for the price to fall to buy from the support below. Avoid chasing at the top because with a trend that has gone as far as in D1, it is easy to have a false break to create a bull trap above.
TODAY'S BITCOIN ANALYSIS OVERVIEW:
A state of deep price compression appeared in D1 #Bitcoin with the NRB model, suggesting the possibility of big fluctuations. The main point of #bitcoin H4 is still to buy if there is a pullback. Limit chasing buying to avoid false breaks above.$BTC $BTC
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