%2011.56.40.png)
A month ago I made a post analyzing the price of Bitcoin weekly chart, indicating the break above the Gaussian channel and because it was a good bullish sign for Bitcoin in the Long Term.
I leave you the link.
%2011.59.36.png)
Today we see that Bitcoin has made a weekly price movement retesting the upper limit of the channel.
%2011.25.59.png)
We have already seen this in the history of Bitcoin both in 2015 and in 2020
%2011.12.12.png)
%2011.09.16.png)
Also in the previous post I had already mentioned it as likely to retest, the price of Bitcoin, the upper part of the channel
Previous post photo
%2011.23.08.png)
Next weeks
What we could see in the next few weeks is a Bitcoin retesting the top of Gaussian Chanel, as it has already happened in previous cycles.
In 2020 Bitcoin has retested the channel for 5 weeks.
%2011.26.44.png)
The best
the best for the end
If we compare the price of Bitcoin in previous cycles, weekly chart, including Gaussian Channel and average of 20 periods.
When analyzing the 2015 and 2020 cycle, we see that it has remained above the average line of 20 periods, after breaking upwards
%2011.40.32.png)
%2011.39.52.png)
And that it has remained above the average line of 20 periods, weekly chart, during all the previous cycles, except in 2020 due to the pandemic and the crisis that it generated.
%2011.42.11.png)
%2011.42.45.png)
I would like to know your opinion, thank you.
READ DISCLAIMER: this publication / analysis is only for general information purposes. I am not a professional trader and I will never be a financial advisor. The material in this publication does not constitute any trading advice of any kind. This is the way I see the paintings and what my ideas are. Perform your own analysis before making an investment decision. Use money that you are willing to lose if you make an investment. If you make exchanges or investments after reading this publication, it is entirely at your own risk. I am not responsible for any of your gains or losses. By reading this publication, you acknowledge and agree that you will never hold me liable for any of your profits or losses.
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I don't know much about TA but if bitcoin etf gets rejected i think we can see things go down :x
They have already rejected so many ETFs that it must already be discounted by the market, don't you think? Thank you for your vote and comment
Nah people will react negatively that's just how it works 😂. There's no rationale it's just emotions based on news and price action