BITCOIN, Since Major Sell-Off, Upcoming Scenarios To Consider!
Hello,
Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. Since Bitcoin recently showed up with the heavy bearish volatilities to the downside the market moved into important initial supports and as I discovered now Bitcoin will have several different scenarios that can develop from now on, therefore it is necessary to elevate on how Bitcoin mainly develops in the next times before rushing into set conclusions and before the determined direction can be defined. Therefore I discovered all the important levels, upcoming determinations, and what we should consider with Bitcoin in its established structure and the upcoming movements we should consider ahead of the next times.
When looking at my chart now we can watch there how Bitcoin with the recent dump pulled below the important 49000 to 50000 Usd zone which was a significant psychological level as the selling accelerated below, besides this price-level Bitcoin also moved below the 100-EMA in red as well as the 50-EMA in black which served as important bullish reference-points previously holding the bullishness to the upside. The fact that Bitcoin rushed below these elements makes them pivotal resistances now which are forming into the resistance-cluster marked in red in my chart. The main sell-off does not mean Bitcoin will not have the ability to stabilize here and come up to new highs again however in this case the resistances will be crucial.
Taking these factors into the consideration now, what we should consider in the near future is that Bitcoin firstly bounces in the structure here similarly as it is marked in my chart to move on firstly to test the resistance-cluster, in this case, there will be a high possibility given that Bitcoin firstly pulls back off this cluster to the downside which should not be kept from the desk. The central indication then will be on how Bitcoin proceeds with this pullback and basically how strong this will proceed, when the pullback is happening with not much increased momentum there is a good chance given that Bitcoin manages to confirm the main-support-base marked in blue in my chart as support firstly from where a back-up can emerge.
In case Bitcoin does not proceed with the pullback with decreased momentum and even increases with bearish pressure into the lower zones this will lead to the continuation to the next given support marked below in blue at the 40560 Usd level, this will be the last reference-support in this whole structure because it will be absolutely crucial that Bitcoin holds this support as a continuation will follow below. The recent events have one more time showed how swiftly the cryptocurrency market can change direction especially as smart money operators are in this market, as traders we need to be prepared on such events to not get cached by surprise when it happens, this is why with our proper preparation in the VIP channels we also managed to execute great short-side trades in the dump occurred.
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!
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. Since Bitcoin recently showed up with the heavy bearish volatilities to the downside the market moved into important initial supports and as I discovered now Bitcoin will have several different scenarios that can develop from now on, therefore it is necessary to elevate on how Bitcoin mainly develops in the next times before rushing into set conclusions and before the determined direction can be defined. Therefore I discovered all the important levels, upcoming determinations, and what we should consider with Bitcoin in its established structure and the upcoming movements we should consider ahead of the next times.
When looking at my chart now we can watch there how Bitcoin with the recent dump pulled below the important 49000 to 50000 Usd zone which was a significant psychological level as the selling accelerated below, besides this price-level Bitcoin also moved below the 100-EMA in red as well as the 50-EMA in black which served as important bullish reference-points previously holding the bullishness to the upside. The fact that Bitcoin rushed below these elements makes them pivotal resistances now which are forming into the resistance-cluster marked in red in my chart. The main sell-off does not mean Bitcoin will not have the ability to stabilize here and come up to new highs again however in this case the resistances will be crucial.
Taking these factors into the consideration now, what we should consider in the near future is that Bitcoin firstly bounces in the structure here similarly as it is marked in my chart to move on firstly to test the resistance-cluster, in this case, there will be a high possibility given that Bitcoin firstly pulls back off this cluster to the downside which should not be kept from the desk. The central indication then will be on how Bitcoin proceeds with this pullback and basically how strong this will proceed, when the pullback is happening with not much increased momentum there is a good chance given that Bitcoin manages to confirm the main-support-base marked in blue in my chart as support firstly from where a back-up can emerge.
In case Bitcoin does not proceed with the pullback with decreased momentum and even increases with bearish pressure into the lower zones this will lead to the continuation to the next given support marked below in blue at the 40560 Usd level, this will be the last reference-support in this whole structure because it will be absolutely crucial that Bitcoin holds this support as a continuation will follow below. The recent events have one more time showed how swiftly the cryptocurrency market can change direction especially as smart money operators are in this market, as traders we need to be prepared on such events to not get cached by surprise when it happens, this is why with our proper preparation in the VIP channels we also managed to execute great short-side trades in the dump occurred.
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!
Information provided is only educational and should not be used to take action in the markets.
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