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Bitcoin Technical analysis

Hello everyone welcome back to another quick update on Bitcoin Next Move

Let's start right away with the short-term analysis and then move in towards the longer-term chart so right away in a very short term what we can be seeing is not at all very good price movement because we are seeing on the one hourly time frame we are seeing a downtrend being developed which is a typical bearish Market

Alongside this fact, we are also currently creating some kind of rising wedge which is also a typical bearish

Bitcoin pattern and on top of that, we are also heading very important Bitcoin resistance of this one hourly very important resistance level where currently we are already having three touch points from and we are creating the fourth touch Point currently

In my opinion, it will be way less likely to break out towards the upside of this one because of course we are currently trading in a weekend, of course, CME The futures chart is currently closed and if we were to be for some reason be breaking out towards the upside well eventually over next week we are going to be most likely going to be filling our CME Gap so at the end of the day this will not be presenting with any good training opportunities

We can be seeing previously around we got rejected perfectly from our 100 daily moving average and right here we got supported perfectly right now we are kind of balancing we are kind of consolidating at the current level but I do expect as long as we are going to be holding this moving average that at the end of the day, we will be getting some kind of a bounce and we are still looking bullish as well as of course on The Daily time frame we are still in a massive uptrend and I am rather buying the dip than actually trying to short to dip okay that is my strategy

It is all coming together and whenever we are going to be breaking out I think it is going to be happening next week and not this weekend
Hope you enjoy I'll see you in another update soon inshaAllah
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