Joseadmusic
@t_Joseadmusic
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Bitcoin tries to sustain its bullish market
After a nearly 30% drop from its all-time high, BTC seems to be consolidating within the $80,000 to $85,000 range. However, it is still too early to confirm a new bullish impulse.According to my analysis, BTC is compressing between two trendlines that have been forming over the past few months. The first one, an ascending trendline, has been in place for eight months (since August 2024), while the second, a descending trendline, has been forming since early January. At first glance, the movement appears predominantly bullish. However, I am personally waiting for a breakout of the descending trendline, followed by a retest and a bullish alignment of my cloud indicator and moving averages.This outlook applies to medium- and long-term trades, focusing on 4H charts and higher timeframes.
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Any content and materials included in Sahmeto's website and official communication channels are a compilation of personal opinions and analyses and are not binding. They do not constitute any recommendation for buying, selling, entering or exiting the stock market and cryptocurrency market. Also, all news and analyses included in the website and channels are merely republished information from official and unofficial domestic and foreign sources, and it is obvious that users of the said content are responsible for following up and ensuring the authenticity and accuracy of the materials. Therefore, while disclaiming responsibility, it is declared that the responsibility for any decision-making, action, and potential profit and loss in the capital market and cryptocurrency market lies with the trader.