BITCOIN, In Decisive ASCENDING-CHANNEL, Main Scenarios!
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Hello,
Welcome to this technical-analysis about Bitcoin, we are looking at the 4-hour timeframe perspectives. As mentioned in the previous analysis about Bitcoin we have seen increased rigged Bitcoin activities with Smart-Money-Market-Maker-Operators trapping innocent participants to go long while pushing the prices to the downside, this is what happened now and Bitcoin reversed in the structure increased with bearish determinations and moving into previous supports giving the market makers the ability to accumulate further. Now Bitcoin as I discovered is forming a decisive structure from where further conclusions either to the up or downside will be made, in this case, it is always necessary to wait for the proper confirmations before rushing into one direction, in this manner I discovered the important structural levels, upcoming determinations and scenario-possibilities we need to consider here.
As when looking at my chart we can watch there how Bitcoin is forming this massive ascending-channel-formation in the structure, after Bitcoin showed up with the bull-trap and the fakeout zone above the previous all-time-high Bitcoin heavily pulled back increasing with bearishness and testing the lower boundary of this major channel-formation where Bitcoin now firstly bounced and moved into the remaining resistance marked in my chart within the 66060 USD level in black where Bitcoin has still an important resistance. Currently the bearish scenario has a slightly higher possibility which will happen when Bitcoin pulls back and continues bearishly to breakout below the lower boundary, when this first confirmational move happens this will actually increase the bearish possibility to 65% and there is a higher likelihood in this case for Bitcoin to continuing bearishly.
The reverse perspective would be the bearish scenario with Bitcoin managing to breakout above the upper-resistance at 66060 USD and setting up on it to continue with bullish determinations to the upside. In this case when Bitcoin increases with bullish volatility and bouncings in the structure such scenarios will increase the possibility for the bullish scenario to show up with. Taking both perspectives into the consideration it is highly necessary to await the proper confirmations before moving into the final direction as both possibilities can change although the bearish one has a higher potential. If the bearish possibility should complete which happens with a breakout below the lower boundary Bitcoin will likely continue to the target-zones down the line at 58200 USD where the whole developments need to be assessed again, for now we will see how these suggested scenarios come around with.
In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, 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.
Welcome to this technical-analysis about Bitcoin, we are looking at the 4-hour timeframe perspectives. As mentioned in the previous analysis about Bitcoin we have seen increased rigged Bitcoin activities with Smart-Money-Market-Maker-Operators trapping innocent participants to go long while pushing the prices to the downside, this is what happened now and Bitcoin reversed in the structure increased with bearish determinations and moving into previous supports giving the market makers the ability to accumulate further. Now Bitcoin as I discovered is forming a decisive structure from where further conclusions either to the up or downside will be made, in this case, it is always necessary to wait for the proper confirmations before rushing into one direction, in this manner I discovered the important structural levels, upcoming determinations and scenario-possibilities we need to consider here.
As when looking at my chart we can watch there how Bitcoin is forming this massive ascending-channel-formation in the structure, after Bitcoin showed up with the bull-trap and the fakeout zone above the previous all-time-high Bitcoin heavily pulled back increasing with bearishness and testing the lower boundary of this major channel-formation where Bitcoin now firstly bounced and moved into the remaining resistance marked in my chart within the 66060 USD level in black where Bitcoin has still an important resistance. Currently the bearish scenario has a slightly higher possibility which will happen when Bitcoin pulls back and continues bearishly to breakout below the lower boundary, when this first confirmational move happens this will actually increase the bearish possibility to 65% and there is a higher likelihood in this case for Bitcoin to continuing bearishly.
The reverse perspective would be the bearish scenario with Bitcoin managing to breakout above the upper-resistance at 66060 USD and setting up on it to continue with bullish determinations to the upside. In this case when Bitcoin increases with bullish volatility and bouncings in the structure such scenarios will increase the possibility for the bullish scenario to show up with. Taking both perspectives into the consideration it is highly necessary to await the proper confirmations before moving into the final direction as both possibilities can change although the bearish one has a higher potential. If the bearish possibility should complete which happens with a breakout below the lower boundary Bitcoin will likely continue to the target-zones down the line at 58200 USD where the whole developments need to be assessed again, for now we will see how these suggested scenarios come around with.
In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, 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.
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