Bitcoin Price Prediction for 2021 (Part 1 : Technical Analysis)

In this video, we’re gonna take a look at bitcoin 
from the technical analysis standpoint and in   the next videos, we’ll see How realistic the 
technical part can be by looking into other   aspects Such as cycle and fundamental analysis. 
Unfortunately there is a data shortage for doing   a thorough TA on bitcoin because its all-time 
high’s been hit, so there are no highs from the   past. I’ll try my best with any technical tools 
available.

First we need to change our chart   to logarithmic scale. We do that because when an 
asset price grows largely, our analysis is skewed   towards recent larger values and the primary 
data is ignored to a great extent. Simply put,   logarithmic scale is based on percentage points 
not price. Ok, what we have here is a dynamic   resistance. Even if the price gets to that 
level this month, which is almost impossible,   it sees around $125000. The later it gets the 
higher value it sees. There is also a channel   where the nearest price to its upper line 
is around $75000. Although we don’t need any   indicators to see how strong the bullish market 
is all the indicators confirm this strength..

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