Bitcoin, Decisive Channel-Formation, Determining Zones!
Updated
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.
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.
Note
Former Analysis About The Ascending-Channel-Formation: 
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