Bitcoin, Since Crucial Formation Completed, These Steps Ahead!

4 дек. 2020 г.Hi my friends,

Welcome to this update-analysis where we are looking at Bitcoins developed situation, now we are looking on the more global perspective, the 2-hour timeframe perspective and as Bitcoin recently already completed the ascending-triangle-formation I mentioned previously with a breakout to the downside, if you did not see this analysis already I highly recommend it to you to have a full-depth-overview, now this was a significant step within the established structure, now besides that, furthermore I discovered other meaningful signs that will be worthwhile in the upcoming developments, therefore we are looking at all the important levels and likely outcomes we should consider with Bitcoin in its established structure and the forthcoming destinies ahead.

As when looking at my chart we can watch there Bitcoin now fully completed the ascending-triangle-formation with a bearish move below the lower-boundary where it is now testing the important 100-EMA in the structure marked in blue in my chart, this EMA is a major reference-point here and as you can watch it is also matching with the point-of-control within this structure when the bearish pressure increases further the next times and Bitcoin moves below these two levels this will move Bitcoin into the pull-back-extension-zone marked in red in my chart and also below the ascending-trend-line marked in blue, when Bitcoin closes within this zone it will move on bearishly within it till there is support found that can reverse the dynamic again which Bitcoin has lain down in the structure at the 17020 levels marked with the dashed blue trendline, this can be a possible zone where Bitcoin manages to stabilize and move on to reverse. On the other side when Bitcoin stays above the 100-EMA and point-of-control there is the possibility given that Bitcoin moves on to test the upper resistance-levels anew however this possibility is currently quite marginal and the bearish perspective should be much more considered.

The upcoming times will tell how Bitcoin moves on further in this structure, especially at the high level, overbought region, and the completed formation the bearish scenario should not be underestimated in any case here, as many people already getting extremely bullish this is often the sign that the market reverses as the indicators are also on a high level especially within cryptocurrency such reversals can happen swiftly and fastly as the past has already shown oftentimes, this is why it is important to be prepared on such changes to take proper action when it is necessary and do not get overwhelmed by circumstances as this is what smart money operators just looking for to take up positions from inexperienced traders either in the long or short-side.

In this manner, thank you for watching the analysis, have a great day and weekend, 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.

4 дек. 2020 г.

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Origin-Analysis With Formation On The 1-Hour Timeframe Perspective: