#BTC

🚨✅📢 $BTC price analysis using data ad figures from history.
i) Trend line
Two trend lines are drawn using a similar pattern The left side trend line in black color representing a resistance during the bear market. Whenever $BTC touched the line it quickly moved downward or the dump started. At 3 different locations touched the lines and dumped red arrows pointed out those. When $BTC broke that line the real bull market started as at that time it broke previous all time high(ATH). Green arrows show where it broke the resistance and then the same resistance becomes support during the bull market. Onee btc peaked it came down quickly and tested the support line and moved around that for some week and again on gaining momentum it crossed the trend line saw green arrow and set new ATH. After trading there for some time it dumped and broke support and the rest was a bear market history.
Using similar historical data and figures the right side trend line is drawn. On observing it is clear that btc is moving on almost a similar pattern. It touched the trend line which acted as resistance, dumped down, red arrows are used to represent that dump on each time. Now it breaks the trend line which is now acting as a support. If we draw comparing on the same line maybe it move down in coming weeks and retest that support line because btc never tested the trend line zone. Sooner or later it will probably retest as per previous knowledge.
ii) Relative strength index(RSI)
Using this indicator it can be seen that RSI is moving towards the purple zone. Above the purple zone on the weekly chart it is overbought, so this indicator may also show price may possibly come down and retest. Another point is 3 circles are drawn to show the comparison of the current bull market and previous market.
Overall, market sentiments seems positive as ETF approval is crucial for the market. Though the number of btc leaving exchanges are at highest.
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