Bitcoin Analysis – 08.May.2024

Bitcoin Analysis – 08.May.2024

XAUUSD GOLD EURUSD GBPUSD Forex Gold Master Arman Shaban

Bitcoin Analysis: Upon reviewing the Bitcoin chart in the weekly timeframe (logarithmic), we observe that after the price dropped to $56,000, it encountered demand as expected, presenting an attractive buying opportunity to purchase at a discount. The return on this analysis from last week until now has been over %15, and the price was able to rise from $56,000 to $65,000! Currently, the price is trading around $62,000, and the other assumptions of the previous analysis remain valid. The medium-term targets for Bitcoin are, in order, $77,000, $85,000, and $100,000.
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Author : Arman Shaban

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