FX.co ★ Technical analysis of Bitcoin

BITCOIN

The end of the week and month is drawing near. Throughout the week, bitcoin seeks to neutralize all the achievements of the bears of the past week, but the month will most likely remain in history as a time of uncertainty. Despite the new all-time high in April, bulls have failed to hold positions and close with positive results. The attraction is now exerted by the weekly short-term trend (54,808.81) and the psychological level (55,000.00), the daily cloud (56,498.81-52,375.80), and the daily Ichimoku cross are a little more expanding. If the bulls manage to overcome the indicated levels and gain a foothold above 60,000.00, then the question of a new maximum will again arise, for this, it is necessary to update the reached maximum (64,768.80). If the players go down under the indicated supports, and then they will be able to gain a foothold under 50,000.00, then it will be possible to consider new downward guidelines and targets. For example, the weekly level (45,049.58) and, formed by that time, the downward target for the breakdown of the daily Ichimoku cloud.

The key levels of the lower halves (weekly long-term trend and the central pivot level of the day) have joined forces today (around 53,761.73) and are trying to keep the upside advantages of the players. Working above these supports allows us to make plans for further strengthening of bullish sentiments. After testing the final Pivot level (57,462.82), the question of interaction with the resistances of the higher halves will arise. Fixing below 53,761.73 will change the current balance of forces on H1 in favor of the bears.

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In the technical analysis of the situation, the following are used:

Higher time frames - Ichimoku Kinko Hyo (9.26.52) + Fibo Kijun levels

H1 - Pivot Points (classic) + Moving Average 120 (weekly long-term trend)