BTC on 9 h vs 1h charts💥

20 maj

Hello, friends! 🩷 Bitcoin is once again hovering and teasing us with its movement. 😏You might think it's stuck just like it was a few months ago, when we anticipated a price drop, but in my view, there are some differences that I'll try to describe in this post.👇

https://www.tradingview.com/x/eZ7KkdoH/


For clarity, I divided our chart into two parts - the left side showing the 9-hour timeframe, and the right side showing the hourly timeframe.

👐On the longer timeframe - the left side - we see that the price has broken out of the triangle upwards. Many of You, seeing a fake breakout from the same triangle before, might rightfully ask,<< could this be another fakeout?>> In my opinion - no, because the price has already consolidated sufficiently above. So, we have a breakout of the triangle.

👐Now, let's move to the chart on the left - the hourly one! There we see our breakout with the price formed in more detail! We can observe impulsive movements and the formation of a short-term channel, looking at which we can expect the price to rise to the 67,500 level. Then, we may either continue forming this channel by lowering the price to 66,100 and then rising again to 67+.

I think this will be the accumulation period before the moon flight:))

What do You think?😎Write Your thoughts in the comments.

Also, here's my educational post on trading channels, by the way, take a look😘
👇👇👇

https://www.tradingview.com/chart/BTCUSD/MD1WaByK-Channel-Trading-Strategy/


Thanks for Your attention💋

Always sincerely Yours, Kateryna💙💛

21 maj

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