Bitcoin, Scenario That Can Lead To A Paradigm-Shift!
Updated
Hello Traders Investors And Community, welcome to this update-analysis where we are looking at bitcoins recent price-action since the last one, the current formation, what we can expect and what bitcoin can fulfill in order to increase the pace it is currently developing. Bitcoin is sending highly interesting signals at the moment and as I mentioned a bounce from the lower boundary of the huge channel formation was in the high possible range exactly this is what happened right now which is also documented and it is really great to watch that our elite trading channel noted good profits in this volatility which showed up. Currently, bitcoin broke above several important resistance levels and the big question now will be if this is just a huge bull-trap leading to a break of the channel to a downside or a successful bull-move which is lying ground to further movements into the bullish direction.
When looking at bitcoin from a technical standpoint now it is still trading below important resistance levels, which is the 10.350 - 10.500 which is the big difference to other major cryptocurrencies like ethereum which already formed a breakout out of these resistance levels already while bitcoin is still trading in this huge and substantial parallel channel formation and therefore factly in an unconfirmed state but this can change when bitcoin takes out this resistance, as I pointed out in previous analysis it is more within the likelihood spectrum that this resistance will be taken out in the middle-term sooner or later, the question was if bitcoin forms a correction and pull-back before that or has the strength to stabilize in the level and form an immediate breakout, as the volatility popped up now showing stronger bulls the possibility for the immediate scenario increases when bitcoin holds the established pace.
The next time we can expect bitcoin to test the 10.350 - 10.500 resistance which it has pierced now already, when bitcoin succeeds in this level and moves beyond it there are some possibilities given that it moves above and confirms bullish but as there are still important resistance zones and the market is slightly overbought on the short-term the pull-back scenario is more possible as it will also confirm the overall wave count and completion of the channel formation, therefore it is highly important that bitcoin holds the lower boundary as you can watch it marked in my chart with the critical confirmation, when it does and stabilize in this level there will be a good potential given that bitcoin moves on to test the 10.350 - 10.500 mark a final time and at the end moves above it, therefore it is important that bitcoin does not fall below this level and stabilizes healthily above it.
In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you!
Astonishing claims require astonishing results.
Information provided is only educational and should not be used to take action in the markets.
When looking at bitcoin from a technical standpoint now it is still trading below important resistance levels, which is the 10.350 - 10.500 which is the big difference to other major cryptocurrencies like ethereum which already formed a breakout out of these resistance levels already while bitcoin is still trading in this huge and substantial parallel channel formation and therefore factly in an unconfirmed state but this can change when bitcoin takes out this resistance, as I pointed out in previous analysis it is more within the likelihood spectrum that this resistance will be taken out in the middle-term sooner or later, the question was if bitcoin forms a correction and pull-back before that or has the strength to stabilize in the level and form an immediate breakout, as the volatility popped up now showing stronger bulls the possibility for the immediate scenario increases when bitcoin holds the established pace.
The next time we can expect bitcoin to test the 10.350 - 10.500 resistance which it has pierced now already, when bitcoin succeeds in this level and moves beyond it there are some possibilities given that it moves above and confirms bullish but as there are still important resistance zones and the market is slightly overbought on the short-term the pull-back scenario is more possible as it will also confirm the overall wave count and completion of the channel formation, therefore it is highly important that bitcoin holds the lower boundary as you can watch it marked in my chart with the critical confirmation, when it does and stabilize in this level there will be a good potential given that bitcoin moves on to test the 10.350 - 10.500 mark a final time and at the end moves above it, therefore it is important that bitcoin does not fall below this level and stabilizes healthily above it.
In this manner, thank you for watching, support for more market insight, have a great day, and all the best to you!
Astonishing claims require astonishing results.
Information provided is only educational and should not be used to take action in the markets.
Note
Bitcoin Formed The Immediate Breakout Scenario And Confirmed Above The Upper Boundary.Note
Bitcoins Long-Lasting Consolidation Phase Has Now Ended And There Are Some Interesting Signals Further In The Structure.
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