What could be Bitcoin's next move?

in Tron Fan Club5 months ago

Assalamu Alaikum


How are you? By Allah's grace, I'm doing very well. War is just an excuse, as you all know, no one can predict these things in advance. The main goal of this downtrend was to liquidate long positions, and the liquidation game is still pending.

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Here you can see that I have moved into the daily time frame of Bitcoin, now we will analyze what our next movement could be by looking at Bitcoin dominance, USD dominance and altcoin total market cap. We will discuss these in a very natural way so that even those who do not understand technical analysis can get an idea. Here you can see clearly that Bitcoin has created an M pattern and Bitcoin has created a pretty good trendline here and now this trendline has broken and the confirmation of this is that there was a resistance here which is coming down without breaking.

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Now the question is to draw Fibonacci Retest from Sewing high to Sewing low to see what the next movement of Bitcoin could be. And from here we get a range which I have enclosed with a box now we will remove Fibonacci Retest.

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Now we are getting 0.5 level, so now notice if we say in SMC language order block plus above fear value gap which means if it is a valid order block then the market will come in the order block to take the orders. Now if we want to say it normally then you will understand that there is a high possibility of the market coming in 95 thousand to 93 thousand dollars, and later if it breaks the range again then it will come down further to around 88 thousand dollars. And once the market comes to 88 thousand dollars then we can easily understand which direction the market will go and then we will analyze accordingly. For now, prepare mentally Bitcoin will come in the range of 93 thousand dollars.

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Let's take a look at this range again, if we look closely, we can see that there is a range from $98,000 to $93,000 and maybe you can understand better where the market can come from. Keep in mind that this is not 100% sure, it is just an analysis and if you can analyze it well, then analyze it better. The market has given a dump since the news of the war came, but we are noticing that the market has been stable in the same place for the past two days, due to which it is not yet possible to say what will happen. There is always volatility in the crypto market, so before making any decision here, do your own analysis and take steps according to your inclination.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.


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