..//As we mentioned in the recent analyses, Bitcoin broke upwards in the giant bullish flag pattern, and as I said before, it is a bullish pattern par excellence, and the full technical target for this pattern will be the $87,000 level, after which we can see the $90,000 levels, but recent events have had a relative impact on the continuation of the rise. …
..//For the 4-hour range, there is a possibility of the presence of a compatible triangle pattern, and in this pattern it is not possible to predict how the break will be. If the break is to the upside, the technical target will be the $74,738 level, and if the break is to the downside, the target will be $61,811, and if it is completed This pattern will be broken within the next 60 hours or 72 hours at the latest, and since nothing is certain in the world of crypto, the break may occur within hours or just one day. To confirm the break if the pattern is complete, we must see the formation of the movement shown in the circles. Therefore, we will have two opportunities to either buy Long or sell Short when the pattern is broken, so all expected movements will be below the article and shown in the picture, taking into account the weekend and the gradually decreasing trading volume…
..//The most important levels to monitor are the $62,718 level, then we have the $59,500 level, and any new loss to the $59,500 level means that the decline will continue until $52,000 and then the $48,000 level, and the 48,000 level means a 35% decline in relation to the highest historical peak. For Bitcoin, this percentage is healthy, safe, and very appropriate for Bitcoin until we see new historical peaks above the $100,000 levels, and any decline of more than 30 or 35% means that Bitcoin is at risk of collapsing to the $30,000 levels...
..//In any case, Bitcoin is still bullish as long as the price movement remains above the $65,000 level, and the next ascending levels are $71,000, reaching the $74,000 levels, and this will happen within days, and as I said before (which is actually happening), there is a possibility that Bitcoin will continue for some time in... Sideways movement until alternative currencies, led by Ethereum, catch up...
..//This article is not financial or investment advice and is just a modest technical analysis and also relatively basic..
..//Even if there is a strong decline, we must not lose the $59,500 level for more than 24 hours because it is an important key level for the upward movement, and losing it again will cause a drop to $52,000 and then $48,000..
..//The break of any level must be certain and not just an imaginary move..
..//The upward movement will continue as long as Bitcoin is above the level of $65,000, taking into account the current global events and their developments, especially the repercussions taking place in Iran and do not forget also Slovakia and Ukraine in addition to China and Taiwan...
..// good luck for everbody
