Bitcoin Analysis Technical BEFORE BREAKING THE $20K

Hello everyone, it's Petko Aleksandrov and I continue from the Bitcoin chart, doing some more analysis as the Bitcoin doesn't give up with the 20 000 and the 2 resistance lines that we have. It's right at the 1st one at the 19 700 and then the 2nd one is 19 900. So after the last video where I had an entry right here, it did quite a bullish move and then it went a little bit sideways for some time and I had a chance to draw another aggressive counter-trend line, this one over here. And then it broke higher, pulled back, retested this aggressive counter-trend line, and then continued higher. Retest it again the countertrend line. OK, so one more time, Let me zoom. You can see better. Here was the break. This is the entry where I took Bitcoin Cash this time. And then what happened? The price broke higher. It retested the countertrend line went higher again, stopped at that level 2nd time at 19 506 to something, and then retested that original counter trend line.

Here is the retest and now it continues higher. All right? It's quite interesting for not just for me, but for everyone I guess what will happen, is it's going to break it or not? From my experience in Forex trading from many years and as well in the last years with the Cryptocurrencies, when the asset tries to break 1, 2, 3 times, it will break it at 1 point. OK, because if the Buyers don't give up, you know what I mean? If they are pushing, and pushing, and pushing, they will push through at one moment. So we'll see if this is the moment when it will break or it will take some more time. We'll see. So here it is trying to break the 20 000 and these 2 strong resistance lines that we have from back, let me go to the daily chart, from back in 2017.

Here they are, this one and this one. And now we will see what will happen. It did through right here. It did a high. If you look at the highs and the lows that we have with the trading view, the high is 19 915.14 This is the Coinbase price that trading view receives. So we'll see if there is a break. And actually, what is more important for me is if that day, if it's the day tomorrow or any of the next days, if the day closes above that level or if it closes above the 2 0000, OK, this is a very important sign and analysis and in price action, OK, because if there is a break, the price pulls back.

It's not that strong compared to if that day, the 1 that breaks closes on the above, this is much more bullish sign. And from there we can expect further movements upwards. OK, so keep that in mind and I will keep you updated with my analysis. I will keep you updated with what I am Buying in my portfolio. And of course, I will be looking then for the targets which are far away with the Fibonacci. OK, we have these targets right here. Let me show you where the prices. 1st target 22 542, 2nd one 28 307, which is so far away for the moment.

But as you know, this is the Bitcoin. Everything is expected and everything is possible. Thank you, guys, for watching. And if you have found it the video useful thumbs up and subscribe to the channel if you have missed to do it. Cheers..

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