IS BITCOIN IN BULL MARKET? 3 IMPORTANT SIGNS!

Hello. I am Luxury Financial Analysis. Who am I? I am a person who has written books on technical analysis and fundamental analysis and has been trading for years. While publishing my videos in different languages, I started publishing them in English today. In today's video we will talk about whether bitcoin is in the bull market. In recent days, the bitcoin price has surged more than 36%. But is this a significant rise? Or a bull trap? In order to decide this, let's first look at technical analysis very simply. I will explain it in a way that everyone can understand and I am sure you will not have a question mark. First of all, I make a lot of use of fibonacci while performing my analyses. How my first method, Fibonacci, is used will be the subject of another video. Today, let's talk about how Fibonacci helps us. Our journey from $28,600 to $69,000 will help us with this. Bitcoin has been standing for a while at $ 17,611 of the fibonacci lines that we drew using this bottom and top. This created a good situation for us because this level became a support level for us, and we proved once again how well the Fibonacci lines work. And this is where we've given us a bottom signal. Is it certain ? Not of course, but this is important data! We try to put the puzzle pieces together and reach the truth. The second most important data I benefit from is moving averages. How these are used will be discussed in another video, and you don't want to miss it. So subscribe to my channel now. A little advice for you. With a little bit of math, you know that the numbers 8, 55, and 233 are golden numbers. What is interesting is that we come across them a lot in nature. in flowers, animals, even in the structure of DNA. In technical analysis, of course, golden numbers make our job much easier. And they seem to foretell the future. I had already placed this data in my chart. Today we will deal with our black line. Our black line shows us the 233-week moving average. Look, it is very interesting that when we examine the bitcoin on the weekly chart, the 233-week average bitcoin, which we see with the black line, has been very well supported and the price has not fallen below this level. Until 3 october. And nowadays bitcoin has managed to rise above this black line again. Is it nice to go above that, of course, but it has to be permanent above this level. Such a situation will be an important indicator of the end of the bear season. For some, technical analysis is quite complex and difficult. But you must have realized that this is not so complicated, with what you've heard so far. And lastly, another important indicator that I look at is my indicators. I will talk about how these are used in the next videos, but for now, let's explain as much as it will be useful for us. We see a high rise in price when the green line seen here rises above the red one. And look what happened? The green one is moving on top of the red one. We can deduce from past actions what will happen if it passes. Remember that what I tell you is an inference. Although these inferences are highly accurate, they are never a guarantee. Never forget to follow me for many more details. If we're going to win together, recommend me to others. Take care and see you in the next video.