ATOM TAPotential double bottom.
Critical resistance at $22.40
If we do not close above the resistance, it is more likely to see another support retest and a launch from there.
Bitcoin-trading
Bitcoin, Decisive Channel-Formation, Determining Zones!Hello Traders Investors And Community,
Welcome to this update-analysis about Bitcoin, we are looking at the 4-hour timeframe perspective, recent events, the established formational structure, and what we can expect in the upcoming times. The major channel Bitcoin formed in its structure was already mentioned in the former analysis and Bitcoin managed to confirm the first scenario bouncing from the dynamic support-zone to the upside, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview. Now Bitcoin tested the upper-boundary anew and initially pulled back, in this case, I detected some very important underlying structures and likely determinations we should consider.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin has now pulled back from the upper-boundary and is testing the lower boundary with the supports lying there, this zone is also matching with the descending-trend-line I mentioned in the previous analysis. Now as Bitcoin has some very worthwhile supports in this case this can lead to a back-up and potential breakout of the channel-formation when Bitcoin manages to go ahead and recover nevertheless it is of high importance that Bitcoin does not fall below the lower boundary and close there because this will invalidate the bullish scenario initially for sure, this is why it is inevitably necessary that Bitcoin holds the boundary.
Upcoming Determinations:
Taking all these factors into consideration Bitcoin will show the next time how it manages to hold these important supports in the structure and back-up from there. Currently, the bullish perspective is not out of sight however it is highly necessary for Bitcoin to show up with the right price-actions and do not increase with bearishness anew because the dynamics can also shift in this case as the cryptocurrency market is still highly volatile such alignments should not be underestimated and especially in the case of market makers and smart money operators we should be prepared on potential changes in direction to act accordingly when they show up and do not get overwhelmed by circumstances, it will be an interesting journey ahead.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Flag-Formation, Ready To Jump Above 50.000 USD!!!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the hourly timeframe perspectives. In the last days and weeks, we have seen a big upthrust within the cryptocurrency market, as the trading volume in January was nearly 3x times its all-time-high seen back in the bull-market in 2017, besides that we had strong bullish news about Tesla moving into the market and other important players like Twitter want to follow now, this is indicating the institutional interest is growing, now on the technical side of things I have detected an interesting formation that has the ability to move Bitcoin above the historical 50.000 USD mark which can hold as solid support when Bitcoin manages to mark above.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin has now formed this descending-channel-formation marked in blue within my chart and with the coherent ABC-wave-count almost already completed in the schedule, when Bitcoin now manages to bounce above the upper-boundary with a decisive volatile bullish move to the upside and stays above the upper-boundary to confirm it as support this will lie ground for the ascending-channel to complete as a bull-flag and activate upside-targets ahead above the upper-boundary where the major wave C within the upside-wave-count will develop as it is shown within my chart, in this case, it is of high importance that Bitcoin does not fall below the ascending trend-lines, however, this is not a likely scenario.
Upcoming Determinations:
Taking these factors into consideration Bitcoin has developed a strong formation that can lead to a more protracted bullishness ahead of upcoming times and as formerly detected Bitcoin already bounced within the local level and confirmed scenario 1 which was mentioned. Now, this is lying ground for a great continuation and it will be seen how it develops further. The 50.000 USD-mark will be a great milestone in Bitcoin history as it is also an important psychological level similarly to the 10.000 USD and can hold as strong support when Bitcoin manages to move above it, it will be shown how this dynamic then develops further, now it is important to elevate the breakout before moving rightly finally into this direction.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Aligning Correction And Rescheduling, Likely Scenarios!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the hourly timeframe perspective, the recent events, the established formational structure and what scenarios are there awaiting on Bitcoin. Since Bitcoin managed the strong volatility and protracted bullish moves above the previously established range it has shown initiated some pullbacks in the structure that should not be underestimated in terms of the determination these pullbacks are going to and where Bitcoin can back-up and stabilize again, in this case, I discovered the underlying structure and what scenarios Bitcoin is likely to show up within the upcoming times, therefore, I detected all the important levels and likely destinies we should consider.
Structural Developments:
As when looking at my chart now we can watch there Bitcoin is forming this major ascending-channel-formation marked in my chart with the blue boundaries and the coherent ABC-wave-count within the formation currently about to form the wave C within the schedule, furthermore, Bitcoin has this descending-resistance-line within the channel marked in my chart in black, this is an important line as Bitcoin needs to move above it finally confirming the bullishness to increase further with a continuation given. As Bitcoin currently develops two underlying ABC-wave-counts, firstly the major ABC-wave-count marked in orange and the sub-wave-count in grey these wave-counts can either complete normally or form a protraction to lower levels firstly.
Upcoming Determinations:
Taking all these factors into consideration Bitcoin is in a situation where it will show the final conclusions within the next times, therefore it is necessary to explicate the two potential scenarios upcoming here, the first scenario will complete when Bitcoin manages the stabilization within the blue support-cluster in the ascending-channel to finally bounce there and mark above the resistance and the second scenario will show up when Bitcoin does not hold this level and finally moves below the lower-boundary, such a price-action will lead to the protraction of the underlying wave-counts and will point to the dynamic zone marked in my chart, this does not mean the bull-flag is over here, it will be like an extension of the flag with a new alignment which is sometimes given.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"The high destiny of the market is to explicate rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Builds Potential Next Flag-Formation, Important Zones!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 30-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin recently has made fundamentally important moves as it established the breakout above its previous trading-range and marked above the 45.000 USD level, this was a serious step that needs the proper conclusions to further validate, besides that Bitcoin also already formed a bull-flag-formation in the structure that completed and as I discovered Bitcoin is forming a similar formation right now, therefore I detected all the important levels and likely outcomes we should consider here.
As when looking at my chart now we can watch there how Bitcoin has and fully completed this bull-flag-formation within the structure and has shown up with the breakout to test the 49.000 USD level, from where it firstly pulled back to the downside and is now about to develop a second important potential ascending-bull-flag-formation that is marked in black within my chart with the coherent wave-count within the formation already completing waves A to C in the structure and now as Bitcoin is approaching strong supports lying within the lower boundary and the supports coming into there the wave-count is likely to continue with the wave D in the structure that will move on to test the upper-boundary from where the final wave E has good potentials to originate.
Taking all these factors into consideration Bitcoin has developed an important second formation that can show up with great potentials when it completes and especially has the ability to mark above the 50.000 USD level which is really a milestone for Bitcoin imagining that this is 10x of the price Bitcoin had one year ago. Taking these factors into account the next major wave C will show up when Bitcoin finally moves above the upper-boundary as marked in my chart, after this is done it has to be elevated how Bitcoin continues after the wave C has formed within the structure, for now, Bitcoin has formed a strong pace on the local perspective as well as on the global, it will be an exciting journey further.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"The high destiny of the market is to explicate rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
DEFI Index, Potential Reversal Firstly Testing Further Levels!Hello Traders Investors And Community,
Welcome to this analysis about the DEFI Index, we are looking at the hourly timeframe perspectives, the recent events, the established formational structure, and what we can expect in the upcoming times. The index on the more global perspectives has approached highly overbought areas and recently struggled to maintain further with initial setbacks that should not be underestimated here, this is why I discovered an important formation that can firstly lead to a change in direction and testings of further levels, therefore I detected all the important levels and likely outcomes we should consider within the established structure and the upcoming movements ahead.
As when looking at my chart we can watch there how the Index is now forming this major ascending-triangle-formation marked in my chart in blue with the coherent wave-count within the formation already completing the waves A to C and is now setting up to form the wave D within the schedule which will run directly into the strong support-zone marked in my chart with the blue box which is likely to be the origin of the wave E to the upside, this wave E will run directly into the dynamic-resistance-zone where the wave-count will finalize and has a high probability to indicate a bearish pullback to the downside as it is marked in my chart, when this pullback then does not manage to hold the range and moves below the lower boundary it will complete the whole formation and activate downside targets with further bearish pressure ahead, when these are reached it has to be elevated if the Index manages a stabilization within. In this case, it is possible that there comes the proper back-up and the index moves on to test higher levels however it is of extremely high importance for the Index to hold the support and do not fall below it because this will invalidate the bullish perspectives firstly.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"The high destiny of the market is to explicate rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Potential Upside-Channel-Breakout Upcoming Next Times!Hi my friends,
Welcome to this analysis about Bitcoin in which we are looking at the 6-hour timeframe perspective. Since Bitcoin recently managed the breakout above the previously established range it has shown up with initial correctional movements, now besides that Bitcoin is forming a decisive formation that I discovered which will be worthwhile for the upcoming determinations and especially when Bitcoin manages to show up with the right price-action here this can lead to an acceleration in trend and increase in bullish pace, therefore I detected all the important levels and likely objections we should consider within the established structure and the upcoming movements ahead next times.
As when looking at my chart we can watch there how Bitcoin is now trading within this important ascending-channel-formation marked in my chart with the black boundaries, furthermore Bitcoin developed this coherent wave-count within the formation already fully completing waves A to C in the schedule and is now about to form the wave D within the structure that then has good origins for the final wave E when Bitcoin manages the sufficient bounce and increase of bullishness from support, this wave E will finalize the whole wave-count and can end in a strong protraction when Bitcoin shows up with the right pace, therefore it is highly important that the supports hold because when falling below this will invalidate further bullish approaches.
Taking all these factors into consideration now Bitcoin is in a situation where it has developed some solid upside validations however now it is the time for Bitcoin to properly build upon this and do not let the bears increase with bearish pressure again, therefore when Bitcoin manages to develop these bullish price-actions a great continuation can follow finally with Bitcoin moving above the upper-boundary and closing there to continue in the direction. For now, it is necessary to elevate these upcoming steps before finally moving into the direction, this is necessary to not just rush into the market and become food for the market makers and smart money operators pushing prices in bull-traps or stop-loss-huntings.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.
BTC, Tesla And Channel-Breakout, 200K As Realistic By End 2021!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the weekly timeframe perspective. The last time's good news reached Bitcoin as the leading company within the new electronic car-technology decided to take up Bitcoin into the balance-sheet and accumulate an initial 1.5 Billion of Bitcoin besides that as I discovered Bitcoin has completed some very fundamentally important price-actions and formational indications that lie ground for a bullish continuation pace like it was not seen before in Bitcoin which can lead to exorbitant high levels and a strong protraction to be reached by Q3 to Q4 in 2021, therefore I detected the underlying levels, likely projections and upcoming destinies we should consider with Bitcoin now.
As when looking at my chart we can watch there that Bitcoin previously formed this all-time-high-projection channel which just perfectly matched with the peaks in 2017 and the bottoms in 2018 and in which this meaningful in-channel-accumulation happened before Bitcoin lastly manages to breakout above the upper-boundary and set-up for an accumulation above this boundary. Now recently Bitcoin showed up with this strong bounce above the upper-boundary fully validating the finalized accumulation above, furthermore, the coherent wave-count is given here fully in play with wave 3 now developing and waves 4 to 5 following up that will determine the upcoming targets in the schedule.
Now together with these technical factors and the fact that Tesla just decided to acquire Bitcoin into the balance-sheet can indicate that Bitcoin receives more public acceptance and more institutional investors coming in. Given the pace with which Bitcoin now continued the channel-breakout-projection seen in my chart is a realistic target to be reached. When these targets have been reached the situations need to be elevated anew and how things on the fundamental side as well as technical site will look then however for now there is strong evidence given that Bitcoin has the ability to show up with this increased volatility within the next months, it will be an interesting journey ahead.
n this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
BITCOIN | Waiting For a Move/Confirmation!Hi,
The current scenarios that I'm waiting for are in front of you.
After my previous short-term trading idea , the price of BTC has started to slow down a bit but probably not for long. At the moment, we cannot do anything because the major resistance is just too close to make a buy from current prices and we don't have any confirmations to go short neither. So, we need to be patient, the hardest part of trading. It's fishing time - “There is time to go long, time to go short and time to go fishing.” — Jesse Lauriston Livermore ;)
For a bullish scenario, I will wait for a 4-hour candle close above the current all-time high and reacting after the retest of it. There might be also a good to buy it right after it has printed new ATH but it would be much riskier because it can easily leave us a wick and then we have a candle close back in the range, back below 41k and this baaaad.
For a bearish scenario , the price sitting just above two strong support areas, and there is also the trendline from the end of January which also can act as a support level. So, a candle close below the lower light-blue support area will be a bearish confirmation and react after the retest of it.
TradingView has made a topic "Who are your favorite follows" , name it on the comment section, and if they agree they give you FREE TV coins!
Regards, I'll keep you posted,
Vaido
Bitcoin, Develops Decisive Channel, Upcoming Determinations!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As already previously mentioned Bitcoin has formed the breakout above the important trend-line giving initial upside-pace nevertheless a pullback was likely which is now happening, besides that, I discovered further meaningful levels and the underlying formational structure that will be worthwhile for Bitcoins upcoming determinations, currently, it is necessary to do not underestimate the bearishness which is still omnipresent as supply is still high within the market, therefore I detected all the important levels and likely determinations.
Structural Developments:
As when looking at my chart we can watch there that Bitcoin now is developing this major decisive ascending-channel-formation marked in my chart with the black boundaries, besides that Bitcoin has formed this coherent wave-count within the formation already completing waves A to C within the schedule and is now about to continue with the wave D which will fully exceed in a protraction when price-action moves below the middle line of the channel as it is marked in my chart, such price-action will then point to the lower levels of support to be tested from where Bitcoin has the potential to stabilize and back-up again which will be crucial because when moving below this can invalidate the wave-count also and further rising.
Awaiting Perspectives:
Taking these factors into consideration it will be of high importance how Bitcoin proceeds with the wave-count as suggested and how it will manage to bounce within the back-up-cluster, when this happens in a solid manner and Bitcoin manages to bounce sufficiently the development of the final wave E can be expected which will then run into the upper-extension-level where a short-entry gets interesting, from then on it will be the question if Bitcoin manages to hold the lower boundary of the channel sustainably or falls below it to increase with bearish pressure, this needs to be elevated then before rushing into trades that do not satisfy as it is seen to often these times, it will be a crucial and interesting journey ahead.
In this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
"The high destiny of the market is to explicate, rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Channel Breakout, These Scenarios To Consider Now!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspective, the recent events, the established structure, and what we can expect in the upcoming times. The last time's Bitcoin has shown up with a strong channel-breakout with increased volatility to the upside with which it recently already tested the remaining upper resistance-zone, besides that, I discovered a decisive formation Bitcoin is forming now that will lie ground for further determinations, in this case, it is highly important that we keep patient for the right validations to show up, therefore I detected all the important levels and likely outcomes we should consider with the established structure and upcoming destinies.
Structural Developments:
As when looking at my chart we can watch there how Bitcoin has now formed the breakout and moved into the upper resistance-zone from where it now is establishing this important head-and-shoulder-formation marked in my chart with the blue neckline, such formations can either break out either to the up or downside and therefore it is important to assess the other factors in the structure. Bitcoin, in this case, will show up with further conclusions next times when the right shoulder has been formed which will complete the whole head-and-shoulder-formation as the left shoulder and the head already formed and for now the bearish scenario has a greater possibility to confirm as it is shown in my chart.
Upcoming Determinations:
Taking all these factors into consideration Bitcoin has developed a strong breakout and is now adjusting further, in this case, the two scenarios are given with the scenario B more likely however either one of these scenarios will show up with a potential bullish stabilization that manages to break out above the upper-resistance marked in orange in my chart, when Bitcoin manages this it will lie ground for continuation nevertheless it is of utmost importance to wait for the right confirmations to show up in the schedule before just rushing into trades that do not satisfy in the end as it is just what the market makers and smart money operators these days are waiting for, it will be an interesting development ahead.
In this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
"There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
BITCOIN | Bullish Continuation, To Wick Fill To $40.000Hi,
My previous idea played out very nicely. Inverted Head and Shoulders worked quite well and after the price reached around the target area, the price of Bitcoin has printed a small consolidation range.
This idea is meant more for short-term traders because the price zones are pretty tight but with high odds. "A small gain possibility is better than no possibilities" - Vaido Veek :D
...oh damn, it's moving already...
So, a 1-hour candle close above the light-blue area, and the first target is the peak of the wick. Quite a high chance that it might also approach 40k+.
As said, firstly you will wait for a 1-hour candle close ABOVE light-blue resistance . 1h candle has to be WITHOUT any significant higher wick and to get a better entry price wait for a retest and go for it.
Regards,
Vaido
Bitcoin Is Moving Faster Like Never Seen Before!Hello Traders Investors And Community,
Welcome to this fundamentally important analysis about Bitcoin looking at the global 2-day timeframe perspectives. Especially the last times we have seen Bitcoin increasing the pace and volatility like it was never seen before in Bitcoin history with huge price-swings within the structure and especially as Bitcoin approached within the all-time-high-region and with the major channel-breakout, this increased dramatically. Now as the movements getting more volatile and the channels getting steeper and steeper it is important to have the proper perspectives and objections given from what is possible now and where the whole journey can lead which I detected with the analysis on the global 2-day timeframe perspective.
When looking at my chart we can watch there how Bitcoin has built up into the current structure with this massive ascending-channel-formation established firstly and also with the second steeper ascending-channel within, these two channels marked also the collision and the turning-point few days after the new all-time-high was approached as it is shown in my chart with Bitcoin breaking out of these two major channels and increasing the volatility the third steeper ascending-channel developed in which Bitcoin is still holding although it initially corrected lastly this channel is still holding and when it is not broken to the downside the potential is given that it holds further till the main targets of the major channel-breakout are reached.
Taking all these factors into consideration Bitcoin is still holding within this very important ascending-channel lying the route for the main targets to be reached in the schedule which is given by the percentage objections determined after Bitcoin has formed the breakout above the major global ascending-channel-formation and the second steeper ascending-channel, these are almost lying at the 81200 level and it will be crucial how Bitcoin approaches there, when serious supply enters the market within this level this can also indicate a reversal visiting lower levels and marking possible short-entries that should not be underestimated as Bitcoin reaches an overbought condition. For now when Bitcoin stays within the third steeper ascending-channel it can be expected that the targets will be reached and when this is done it has to be elevated how the situation develops further.
In this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Bull-Trap In Structure, These Are Crucial Scenarios!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what to expect in the upcoming times. Bitcoin since managing to hold the support in the structure has shown up with some initial bull-moves to the upside testing remaining resistances, these movements however were not really strong yet and it is still not a sufficient reversal, this is why the bearish perspective should not be underestimated here especially as Bitcoin has formed price-action that can lead to more increased bearish pressure, therefore I detected all the important levels and likely outcomes we should consider here and upcoming times.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin has just moved above this 38.000 USD level to immediately pullback after moving above and therefore has formed an initial bull-trap in the structure which will lead to the testing of the ascending-trend-line marked in grey in my chart, when this trendline does not hold and Bitcoin does not manage to bounce within the trendline to the upside to close below the trendline this will cause increased bearish pressure and continuations further to test lower levels also this will confirm to the initial double-top-pattern Bitcoin has formed here that can lead to a bigger bearish protraction when the lower supports do not hold and Bitcoin confirms the double-top below the neckline.
Upcoming Determinations:
Taking all these factors into consideration Bitcoin is still in a precarious situation where it does not yet has confirmed the final bullishness and especially when these supports do not hold can complete this bearish formation with the targets within the blue level where also a stabilization can show up. The only thing that can serve Bitcoin out of the bearish protraction is when it manages to stabilize above the grey trendline and finally moves above the 38.000 USD level to stabilize there as it is marked in my chart. For now, it will be highly necessary and important to elevate how Bitcoin reacts to the ascending-trend-line in grey and how the further conclusions will be determined under the given circumstances.
In this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
"There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Completes H-S, Reaches Targets, What To Expect Now!Hello Traders Investors And Community,
Welcome to this update-analysis about Bitcoin, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since the former analysis Bitcoin has rightly completed the inverse head-and-shoulder-formation with the upside-breakout and also managed to reach the targets recently, if you did not see the analysis already I highly recommend it to watch to have a full-depth-overview. Now as these important measurements and targets achieved the conditions altered and I discovered the underlying important nuances Bitcoin is now about to form, therefore we are looking at the significant levels established and the upcoming destinies.
Structural Developments:
As when looking at my chart we can watch there how Bitcoin reached the complete inverse head-and-shoulder-targets and also moved some levels above to test the remaining resistances higher in the structure to show up with an initial stronger bearish pullback from there moving below the resistance and testing the first ascending-trend-line marked in my chart in black. Now currently this trendline still holds however it is likely to be broken to the downside as Bitcoin has serious resistance lying above marked in my chart in the red level with the local resistance lying there, when Bitcoin moves into it there is a high possibility given for a pullback which will then break out below the important ascending-trend-line.
Upcoming Perspectives:
Taking all these factors into consideration it is firstly more likely that Bitcoin continues with bearishness when moving below the ascending-trend-line and continues till there is support found in which a stabilization can be possible, this is the case within the back-up-cluster marked in my chart in blue where several supports coming together and backed by the second ascending-trend-line in black, this level is of utmost importance for Bitcoin to hold and bounce considering any bullishness ongoing and continuations ahead because otherwise when Bitcoin does not hold this level and moves below into the bearish-continuation-zone Bitcoin will increase with bearish pressure and point to lower levels where the situation needs to be elevated anew.
In this manner, thank you for watching the analysis and for everybody supporting it is great contentment, have a good day and trading!
"The high destiny of the market is to explicate rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin Price Action AnalysisHello, traders!
The first target $37475 is going to be reached. The price broke through the small trend channel from the previous analysis.
Now the price formed the big ascending channel. If the price is able to break through the channel's centraline and find support above the first target, the next target is $39900.
In the opposite case the price will bounce off centraline and can return back to the upward trendline ($35300 level).
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
Bitcoin, Approaches Decision In Channel, Upcoming Possibilites!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 6-hour timeframe perspective. Since Bitcoin has shown up with bearish pullbacks after marking its all-time-high at 42.000 USD it is somewhat trading in a range that will show up with the final validations sooner or later, the strong bearish declines that showed up normally after such patterns in the past did not show up this time again and Bitcoin managed to hold the structure which is indicating a more or less strength of the bulls, in this case, I discovered the current formational structures and what underlying possibilities are preserving here, therefore let us take a look on the current situation and what we can expect within the next times.
Structural Developments:
As you can watch in my chart Bitcoin is still holding above this important ascending-trend-line marked in blue which is a meaningful reference-point for the bulls to hold, besides that Bitcoin is also serving above the 65-EMA in green and the 100-EMA in red which is also a good sign here, furthermore Bitcoin is still trading within this major descending-channel-formation marked in black in my chart in which it already tested the upper boundary several times in the recent price-actions. Together with the ascending-trend-line and the upper-boundary Bitcoin is building somewhat of a triangle-formation here that will show the final breakout and volatility increasing from there.
Upcoming Determinations:
Bitcoin is in a situation where it will show up with the final breakout either to the up or downside moving into either one of the confirmation-zones marked in my chart, taking all the given factors into consideration the bullish scenario has a greater possibility of 65% for now as there are strong supports lying and Bitcoin already tested the upper boundary several times which is indicating a higher bullishness nevertheless it is inevitably important to keep patient and wait for the final confirmation before moving into the right direction either than overspeculating the market and just rushing into trades that do not satisfy at the end as it is seen too often these times giving feed for smart money, therefore it will be important to elevate the final validation.
In this manner, thank you for watching the analysis and for everybody supporting it is a great contentment, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, H-S-Formation Indicating Tests Of Resistance Upcoming!Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 2-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin since pulling back heavily from the 37500 USD zone moved into the remaining supports and tested them where it now managed to somewhat hold above these levels and also above important EMAs, in this case, I discovered a decisive and fundamental underlying formation that can indicate some bullish alignments and testing of upper resistances in the schedule, therefore I detected all the important levels and likely outcomes we should consider with Bitcoins established structure and the upcoming movements ahead.
Structural Developments:
As when looking at my chart we can watch there how Bitcoin is now about to form this major inverse head-and-shoulder-formation marked in my chart with the blue neckline. The left shoulder and the head of the formation already fully completed and now Bitcoin is about to form the right shoulder within the schedule that also does not have many conditions remaining to fully complete, therefore it is important that Bitcoin holds sustainably above this second ascending-trend-line marked in grey and confirms it as support to bounce of this trendline and finally manage to move above the neckline as it is marked in my chart, such price-action will finally complete the head-and-shoulder-formation in the upcoming times.
Upcoming Determinations:
Taking all these factors into consideration Bitcoin has established a strong formation that can indicate some bullish pace when it finally completes, when Bitcoin completes this inverse head-and-shoulder-formation as suggested this will activate the upside targets marked in my chart in red at the 37110 levels where also additionally resistance is lying likely to show up with a pullback when Bitcoin moves into this level which should also be expected as it is not normally the case that an asset just rightly moves above such important resistance. For now, it will be important to elevate how Bitcoin moves on to finalize the head-and-shoulder-formation, when this happens the upcoming determinations and target projection will be given.
In this manner, my friends, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Developments In The Potential Flag-Formation!Hello Traders Investors And Community,
Welcome to this update-analysis about Bitcoin, we are looking at the 6-hour timeframe perspective, the recent events, the established formational structure, and what we can expect within the upcoming times. Since the previous origin-analysis Bitcoin has moved on with the development of wave D within the wave-count and finally pulled back of the upper boundary to emerge within the wave E in the schedule, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview as this analysis is building coherently upon it, therefore I detected all the important levels and likely outcomes we should consider within Bitcoins established structure and the upcoming movements ahead.
Structural Establishments:
As when looking at my chart we can watch there how Bitcoin finalized the wave D in the structure and pulled back from the upper-boundary to continue with the establishment of wave E where the bearishness, for now, gets somewhat slower nevertheless it should not be underestimated as it can also increase again. For is also important in this alignment is the local support/resistance-line marked in my chart with the dashed trendlines which build a major reference point for the bullishness here and when this is broken to the downside the wave E developments are likely to protract and move on to test lower levels as marked where the potential recovery and back-up can take place and also the possible origin for an upside-breakout.
Upcoming Perspectives:
Taking all these factors into consideration Bitcoin is in full stag of the wave-development and next times will be crucial, when Bitcoin finally moves below the local support/resistance-line the protraction of the wave E is likely to take place otherwise when Bitcoin manages to stay somewhat above the line this can indicate a potential early breakout and confirmation of the bull-flag which is not the most likely scenario for now, in any case, the bull-flag-confirmation is highly likely and should be expected sooner or later as Bitcoin showed already up with the attempts to fully complete a breakout this is the expectation we should keep on the side, nevertheless it is important to wait on the proper validations, it will be an interesting development.
In this manner, my friends, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, all the best!
"There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
Ethereum, Triangle Formation, Two Scenarios, One More Likely!Hello Traders Investors And Community,
Welcome to this analysis about Ethereum, we are looking at the 45-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Ethereum since it formed the new highs within the new all-time-high region has shown up with some pullbacks to the downside which should not be underestimated here as the market is also overbought, this is why it is so important to anticipate potential changes in this market with Ethereum possibly moving on to reverse course as it is also forming this massive ascending-triangle-formation on the more global perspective I already discovered, therefore we are looking at all the important levels and likely destinies.
As when looking at my chart we can watch there Ethereum has built now this decisive triangle marked in blue in my chart with the coherent wave-count within the triangle already completed and now testing the lower boundary and the EMA anew, overall this formation can either breakout to the downside or to the upside nevertheless the downside scenario has a greater likelihood of a 65% possibility here which should also be expected. In any case, it is important and necessary to wait for the final confirmation and validation happening outside of the proper boundary, when such price-action happens the triangle is confirmed and the targets activated, after Ethereum has reached the targets the situation needs to be elevated anew.
In this manner, my friends, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, all the best!
"There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Bear-Flag-Formation, These Are Perspectives! Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 45-minute timeframe perspective. Since Bitcoin has shown up with strong volatility to the upside, this happened to result in a curious pullback with Bitcoin testing previous support anew, for now the bearish scenario is still omnipresent and we should not come to the conclusion to overspeculate the market as it is happening to often these days just feeding the market makers and smart money operators, when trading we should always trade what we see not what we think and also very very importantly also prepare for the reverse perspective when the market changes and trend alterations begin which is not unlikely seen within todays markets like the cryptocurrency market.
When looking at my chart we can watch there how Bitcoin has now formed this channel-formation in the structure marked in blue in my chart, this is the point in which Bitcoin is testing the previous supports and it resulted out of this initial impulse to the downside, what is important here is that Bitcoin already completed its wave-count within the formation and therefore is likely to show up with a breakout of the formation upcoming next times. When this breakout closes below the lower boundary as it is marked in my chart it will lie ground for the second major impulse to the downside pointing to the targets seen in my chart, after this has happened the situation needs to be elevated anew and it needs to be shown how Bitcoin continues further.
In this manner, my friends, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, all the best!
"The high destiny of the market is to explicate rather than to speculate."
Information provided is only educational and should not be used to take action in the markets.
Bitcoin, Increased Volatility, Scenarios To Consider Now! Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin in which we are looking at the hourly timeframe perspective. The last time's Bitcoin has shown up with increased pace and volatility shooting from 32400 to 38000 in a short period of time increasing the volatility. After this happened a pullback shown up firstly testing support-zones now and with all these events the bearish perspective is still ongoing and omnipresent, it is important to note that Bitcoin did not yet show up with a concrete reversal and indication for moving to higher levels, this is why we should not be naive and take up the right approach to not overspeculate the market as it is seen too often these times just feeding the market makers and smart money operators, in such times it is important to assess if such moves are backed by something real or are just short squeezes which also do not mean they are not tradable, nevertheless the differentiation is important to keep moving.
As when looking at my chart now we can watch there how Bitcoin now initially pulled back from the 38000 level and is testing the 400-EMA in green and the 200-EMA in red now, these are two reference-points for bullishness to hold and when they hold with Bitcoin managing a strong sustainable stabilization above this can possibly alter the situation and Bitcoin has potentials given for a back-up with bullish continuations, nevertheless, when Bitcoin moves below this level it will firstly indicate the testing of the support at around 29400 marked in my chart in blue where Bitcoin has the potentials to recover and test the remaining resistances anew from where a pullback firstly is likely. The crucial decision will come after Bitcoin pulling back from the resistance and testing the support again, because when the support then does not hold Bitcoin will protract with the wave C moving into lower zones and testing the supports there where a final stabilization can show up, these two possibilities are given and marked in my chart and it is of inevitable high importance to wait either the first or second confirming before rightly moving into the market and to do not rush into trades that do not satisfy and do not bring the results awaited because this is should be a goal for sophisticated trading.
In this manner, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, all the best!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
