Bitcoin / TetherUS
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Bitcoin Analysis 🕯(Master Candle)🕯

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👋Hi, I hope you have a great weekend.

📚It is better to know that candles are considered as passports for charts. Candles alone or together (candlestick patterns) can convey concepts to us that help us identify price trends, and these patterns are in higher time frames, more volume and closer to standard patterns, the more valid they will be.

📉Today, I want to analyze the Bitcoin daily candles for the last week, which, along with the previous analysis, may help us identify the Bitcoin trend.

🕯If you look closely at the candle from five days ago in the daily time frame, you will see a candle with a red body, long and high volume, which contains five candles so far. The name of this candle is Master Candle.

📚What is Master Candle❗️❓

🔸There are different ways of looking at this trading strategy, but in its simplest form, a Master Candle is a candle which contains the highs and lows of at least the next four candles after it. It can be applied to forex, gold, oil , crypto, stocks, and indices.

🔸When a Master Candle forms, a trade is taken if the High/Low breaks, taken of course in the direction of the break.

💡Also, candles number 2, 3, and 4 together and on the 🔴Resistance zone($43,560-$42,780)🔴 form the Evening ​​Star Candlestick Pattern, which is one of the bearish reversal patterns.

💡Another point that may give us more insight into the value of this Master Candle is that this Master Candle is the longest and most voluminous daily Bitcoin candle since Bitcoin started its rally at $25,000, and the other point is that this Master Candle has appeared at the top of the ascending channel and near the 🔴Resistance zone($51,500_$45,340)🔴 and the Regular Divergence(RD-) between two consecutive peaks can be seen.👇

снимок

💡Finally, before making a better conclusion, let's take a look at the weekly candlestick. The weekly candlestick has also formed a Hanging Man Candlestick Pattern near the 🔴Resistance zone($51,500_$45,340)🔴 and above the ascending channel. Hanging Man Candlestick Pattern is a bearish reversal pattern.👇

снимок

🔔As a result, I expect Bitcoin to decline and at least fill the 🔵CME Gap($40,325-$39,290)🔵 before falling to the 🟢Support zone($39,000-$37,000)🟢, given the Master Candle's red body and other analyses I shared with you earlier.

❗️⚠️Note⚠️❗️: If Bitcoin can break the High($43,810) Master Candle upwards, we can expect Bitcoin to rise to the 🔴Resistance zone($51,500_$45,340)🔴.

❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.

Bitcoin Analyze ( BTCUSDT ), Daily time frame ⏰.

Do not forget to put Stop loss for your positions (For every position you want to open).

Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.

Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Заметка
Considering that Volume Trading is low on Saturday and Sunday, we can expect the Master Candle to break either from the top side or from the bottom side (more likely) starting next week.
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Заметка
Bitcoin was able to break the uptrend line.
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So far, 9 daily candles have been created inside the Master Candle, and the more candles there are, we can expect Bitcoin to move with a higher momentum if the Master Candle breaks.
Bitcoin (Cryptocurrency)bitcoinsignalbitcoinsignalsBTCBTCUSDTbtcusdtanalysisBTCUSDTPERPbtcusdtsignalCandlestick AnalysismastercandleParallel ChannelSupport and Resistance

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