BITCOIN, This PATTERN Can Be Origin To 87K TARGET-PROJECTION!

22 нояб. 2021 г.

Bitcoin in recent times showed up with bearish breakdowns to the downside as expected and increased heavily with bearishness, it was a great condition for us to achieve profits appropriately on the short-side within the Elite VIP Channels. From the fundamental news perspective we have seen several different and mixed news such as El Salvador looking to build a Bitcoin-city or the first Bitcoin-ETF emerging which are more bullish-sided news to news such as Sweden to ban crypto mining or further regulatory pressures on Bitcoin and Cryptocurrency which are more bearish-sided news, overall the bearish sentiment overweighted especially with the manipulations going on by the big players and smart money market makers as already mentioned. Nevertheless now as Bitcoin showed up with these bearish alignments there is an important pattern forming that I discovered which when completed can catapult Bitcoin into exponentially high spheres and bullish volatility conditions, therefore I discovered all the important levels and upcoming determinations.

Looking at my chart we can watch there how Bitcoin is now forming a second time a very decisive pattern which is the breakdown below the EMA-structure below which it is now attempting to form a similar triangle as already seen before, the last times Bitcoin did so this was the origin of a strong bullish breakout above the EMA-structure and a continuation to the upside with bullish volatilities to finally reach out the 1.618 Fibonacci-projection. Such a same pattern is forming now as well and when Bitcoin manages to breakout above the EMA-structure in a volatile manner the pattern has a high likelihood to show up similarly again. What is also different in this case is the RSI-triple-bottom-structure and the stochastic-RSI-double-bottom-structure forming, an appropriate bounce would complete the triple-bottom in the RSI and the double-bottom in the stochastic-RSI which will be an extra bullish confirmation for the further volatility developments ahead of the next times, in this case, it will be an interesting development on how these conditions move forward.

Now, when looking at the facts we can see here there is the potential for Bitcoin to start a considerable bull-run when this whole pattern completes however what is highly important here is that Bitcoin needs to right finish this pattern with a SOLID bounce because otherwise, such a pattern can also invalidate again, this is always necessary for any contemplation in the markets, we are always trading what we SEE not what we THINK, we do not overspeculate the market into a one-sighted direction this means we have an outlook into the possible scenarios in the market without just preferring one direction, at least this is the approach for us in the Elite VIP Channels. In this case when Bitcoin completes this whole structure which has a high likelihood given now this will bring the fuel for Bitcoin to continue and activate the 87150 USD zone as a target-zone. For now, we need to keep patient and see how this whole pattern possibly completes before jumping to further conclusions, it will be an interesting development ahead.