Bitcoin analysis today (February 21) - There are still signs of good buying forceđ€đ€đ€
** Previous trading idea results: The idea of ââwaiting to buy #bitcoin hĂŽm qua did not activate, which is very unfortunate, because the price fell very close to the buy zone but before it could reach the buy zone, it popped up right after, just as expected. hope.
D1 FRAMEÂ ANALYSIS:
After 2 days of tighter volatility compression, #Bitcoin had a "mini-explosion" yesterday when creating bar D1 with a wider amplitude than before. However, bar D1 yesterday was not a trending or breakout price bar because it was a spinning top candlestick - Spinning Top - showing the balance of supply and demand during the day. However, being a bullish bar with a long lower shadow along with a close above 1/2, and also high volume, yesterday's #Bitcoin D1 showed good buying from below. Mixed volatility continues for #bitcoin D1 as the 1 day up, 1 day down structure holds, and D1 bars line up. The longer the accumulation phase lasts, the stronger the possibility of large fluctuations if there is a price explosion that creates a subsequent breakout. Because #Bitcoin D1 has had a long upward price push recently, even though the trend is Price increases are still dominant, the expectation is that #Bitcoin D1 may have a correction period before rising again.
ANALYSISÂ H4 FRAME:
#Bitcoin H4 continues to move inside the trading range - showing that the cumulative price compression period is still being maintained. This is the "rest" period after the recent trending period. Signs of buying pressure below appeared with the H4 bar creating a bullish pinbar model with very high volume yesterday (H4 bar with arrow below) Because before When accumulating, #Bitcoin H4 tends to increase, so the main trend for #Bitcoin H4 is still buying from the support areas below. The main buying zone is the confluence of #PPZ + round number 50,000. The deeper lower buying zone, the confluence between #PPZ and the uptrend line, is also an area to consider. With a prolonged uptrend, be careful to limit chasing above to avoid a bull trap. .
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