Hi, welcome to our video analysis, Today i wanna discuss about Bitcoin At our previous analysis at august 9, we have support zone at 5799 to 6149 And Bitcoin failed to break down this support
This is very good news for us Before I continue to analyze bitcoin chart, Lets check bitcoin supply and demand chart data If we look at buyer chart or long chart, Buyer getting weak, but we have support line here This support will bring new power for buyer, and if this support not break down, bullish will return and aim for long resistance Lets check at short or seller chart if look at short data or seller chart, we can see this chart perform expanding triangle pattern, and almost touch resistance After resistance touch, seller will lose their power If Buyer become stronger after touch support and seller getting weak after reach resistance BTC will perform very good bullish wave Lets back to bitcoin chart To analyze BTCUSD we move to lower timeframe in this video im using one hour timeframe We can see here at previous pattern, bitcoin perform expanding channel down and this pattern already break up After BTCUSD break up, Bitcoin perform expanding triangle this is not very good pattern to trade with, because high getting higer and low getting lower I will discuss more about this pattern at goprofitmax trading class We can calculate expanding triangle support with fibonacci, here we have new support zone at 6194 to 6285 We can buy bitcoin if this support touch again And for target, we have resistance line here at 7151 as 1st bullish target So we already have trading plan for Bitcoin We buy bitcoin at support zone and aim for resistance line at 7151 and if this resistance break up, we can aim for fibonacci resistance at 7454 This resistance is our previous analysis target Thanks for watching, and see u at next analysis Dont forget to share this video
Bye
