BTC, Since Pullbacks, Further Alignements Expected Volatilites!
Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the daily timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin the last times has shown up with some serious pullbacks in the structure, firstly pulling back from the 41.000 USD level and nearly more than 25% and the second time now recently pulling back from the 58500 levels more than 20%, these were two major pullbacks and from a trading perspective it is always important to keep advancing within such situations by lining-up possibly on the short-side, this is a main part in the cryptocurrency market as it keeps being volatile, a long-only-approach can approve fatal when the market sets up for declines.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin is moving within this major ascending-channel-formation marked with the black boundaries within my chart, besides that Bitcoin has established a coherent wave-count within the structure already completing waves A to C, and now Bitcoin currently is about to form the wave D that will move and test this confirmational-bounce-cluster marked in my chart in blue from where the wave E is likely to originate which will approach upper levels of extension and also this upper-distribution-range marked in my chart which severely confirmed as a distribution-origin and is likely to do so the next time again when Bitcoin approaches it.
Upcoming Determinations:
Taking all these factors into consideration Bitcoin is trading in a situation where it has set up for major sharp pullbacks in the structure, this can also be possible in the upcoming times as there is still supply in the market from hands holding of lower levels the volatilities can continue till a bigger final pullback develops like I have mentioned this possibility already before in the analysis with the ascending-wedge-formation. For now it is necessary to elevate how Bitcoin approaches this continuational-bounce-cluster and moves on from there, what is highly necessary in this case is that Bitcoin does not fall below the lower-boundary because this can possibly invalidate further bullish conclusions ahead of upcoming times.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good 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 market.
Welcome to this analysis about Bitcoin, we are looking at the daily timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin the last times has shown up with some serious pullbacks in the structure, firstly pulling back from the 41.000 USD level and nearly more than 25% and the second time now recently pulling back from the 58500 levels more than 20%, these were two major pullbacks and from a trading perspective it is always important to keep advancing within such situations by lining-up possibly on the short-side, this is a main part in the cryptocurrency market as it keeps being volatile, a long-only-approach can approve fatal when the market sets up for declines.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin is moving within this major ascending-channel-formation marked with the black boundaries within my chart, besides that Bitcoin has established a coherent wave-count within the structure already completing waves A to C, and now Bitcoin currently is about to form the wave D that will move and test this confirmational-bounce-cluster marked in my chart in blue from where the wave E is likely to originate which will approach upper levels of extension and also this upper-distribution-range marked in my chart which severely confirmed as a distribution-origin and is likely to do so the next time again when Bitcoin approaches it.
Upcoming Determinations:
Taking all these factors into consideration Bitcoin is trading in a situation where it has set up for major sharp pullbacks in the structure, this can also be possible in the upcoming times as there is still supply in the market from hands holding of lower levels the volatilities can continue till a bigger final pullback develops like I have mentioned this possibility already before in the analysis with the ascending-wedge-formation. For now it is necessary to elevate how Bitcoin approaches this continuational-bounce-cluster and moves on from there, what is highly necessary in this case is that Bitcoin does not fall below the lower-boundary because this can possibly invalidate further bullish conclusions ahead of upcoming times.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good 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 market.
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