Bitcoin, Increased Volatility, Scenarios To Consider Now!
Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin in which we are looking at the hourly timeframe perspective. The last time's Bitcoin has shown up with increased pace and volatility shooting from 32400 to 38000 in a short period of time increasing the volatility. After this happened a pullback shown up firstly testing support-zones now and with all these events the bearish perspective is still ongoing and omnipresent, it is important to note that Bitcoin did not yet show up with a concrete reversal and indication for moving to higher levels, this is why we should not be naive and take up the right approach to not overspeculate the market as it is seen too often these times just feeding the market makers and smart money operators, in such times it is important to assess if such moves are backed by something real or are just short squeezes which also do not mean they are not tradable, nevertheless the differentiation is important to keep moving.
As when looking at my chart now we can watch there how Bitcoin now initially pulled back from the 38000 level and is testing the 400-EMA in green and the 200-EMA in red now, these are two reference-points for bullishness to hold and when they hold with Bitcoin managing a strong sustainable stabilization above this can possibly alter the situation and Bitcoin has potentials given for a back-up with bullish continuations, nevertheless, when Bitcoin moves below this level it will firstly indicate the testing of the support at around 29400 marked in my chart in blue where Bitcoin has the potentials to recover and test the remaining resistances anew from where a pullback firstly is likely. The crucial decision will come after Bitcoin pulling back from the resistance and testing the support again, because when the support then does not hold Bitcoin will protract with the wave C moving into lower zones and testing the supports there where a final stabilization can show up, these two possibilities are given and marked in my chart and it is of inevitable high importance to wait either the first or second confirming before rightly moving into the market and to do not rush into trades that do not satisfy and do not bring the results awaited because this is should be a goal for sophisticated trading.
In this manner, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, 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 analysis about Bitcoin in which we are looking at the hourly timeframe perspective. The last time's Bitcoin has shown up with increased pace and volatility shooting from 32400 to 38000 in a short period of time increasing the volatility. After this happened a pullback shown up firstly testing support-zones now and with all these events the bearish perspective is still ongoing and omnipresent, it is important to note that Bitcoin did not yet show up with a concrete reversal and indication for moving to higher levels, this is why we should not be naive and take up the right approach to not overspeculate the market as it is seen too often these times just feeding the market makers and smart money operators, in such times it is important to assess if such moves are backed by something real or are just short squeezes which also do not mean they are not tradable, nevertheless the differentiation is important to keep moving.
As when looking at my chart now we can watch there how Bitcoin now initially pulled back from the 38000 level and is testing the 400-EMA in green and the 200-EMA in red now, these are two reference-points for bullishness to hold and when they hold with Bitcoin managing a strong sustainable stabilization above this can possibly alter the situation and Bitcoin has potentials given for a back-up with bullish continuations, nevertheless, when Bitcoin moves below this level it will firstly indicate the testing of the support at around 29400 marked in my chart in blue where Bitcoin has the potentials to recover and test the remaining resistances anew from where a pullback firstly is likely. The crucial decision will come after Bitcoin pulling back from the resistance and testing the support again, because when the support then does not hold Bitcoin will protract with the wave C moving into lower zones and testing the supports there where a final stabilization can show up, these two possibilities are given and marked in my chart and it is of inevitable high importance to wait either the first or second confirming before rightly moving into the market and to do not rush into trades that do not satisfy and do not bring the results awaited because this is should be a goal for sophisticated trading.
In this manner, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, 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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