When in doubt Zoom out- 2 for FTX:BTCUSDT by BTC-XLM

Hello friends,
There are those who think that a price goes straight up, but you have seen it never goes straight. They think a correction is like letting $1000 fall through a hole every single day.
The money is made in investments by investing for long periods of time. If you are a shitcoin trader go back where you belong!

Technical Analysis Section:
Bitcoin started a new downtrend in 15 Nov 2021. Bitcoin’s price began going through corrections. Again, Bitcoin turned lower in 3 Dec 2021.

A Possible scenario is shown in the chart. Both cycles (cycle- 1, cycle-2) did a retracement above the 0.618 fib. bitcoin looking bullish above 51k ( BTC is going to keep going up). At present, you know what to look for!

Long Term Analysis ( Ascending triangle pattern)
Ascending triangle patterns are bullish . This pattern indicates that buyers are more aggressive than sellers as price continues to make higher lows.

Upper Horizontal (flat): trend line: It forms the Resistance and generally have at-least two points (more points are better).

Lower Ascending (rising): trend line: It forms the Support and have at least two points (more points are better).

Base: The value of base is used to keep the minimum target amount.

As you know, prices reflecting the demand ( supply and demand ) in the market.
supply < Demand = Ascending Triangle
supply = demand = Symmetrical Patterns

Supply > demand = Descending Triangle

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