BITCOIN ANALYSIS

Hey Hivers,
Today we will discuss about BTC . Following the tensions between UKRAINE and RUSSIA the markets all over the world has faced lot of crisis. The market has been falling since the tensions started between two countries. Whether it is Sock market or Crypto , both has seen a drastic fall.

As we all know BTC is the Godfather of all Crypto. The rise and fall in the prices of BTC leads to the fall/rise in the price of other crypto's. After the bear market in the last month BTC stood up from $33K and we saw BTC go till $45k . It was not a bully rally but it was quite a move in the market which gave about 30% in BTC and many more in other Crypto's.

But after the War news between two nations (Russia $ Ukraine) bad news started to rise in the market and prices again started to fall and right now we have reached down the level of $34K. Market has fallen only due to War situation , no bad news regarding Cypto is there.

Now Looking At the CHARTS

Here i have shared 3 charts of different time frame
1 DAY

1 WEEK

1 MONTH

In the charts i have drawn a line which is actually a good support for BTC since 2021. Market came down last year till there. After the bear market we were able to see a Bullish trend, and we saw a ATH in BTC around $69K.
Now as of last year price of BTC is on that line and according to charts we might see a reversal from here. But it will be tough due to War situation . Negativity and bad news in the market will affect and prices may go further down from 32K support level till $29K and so on.
As the things stands now war has started and prices may go down , more than we haveexpected. Its against Russia vs 30 NATO nations.