Get started

Bitcoin-trading

BTC BREAK OUT EXTRIMELY BULLISH BTC broke out retesting the $61.8k support the lower support levels are $61.8k and $60.8k Buying BTC on these levels will be a smart idea . The price must bounce from any of these three Level's and rally to $70k+ Once we break that from $60.8K - $61.8k - $64.8k level in weekly BTC could break $70.8k easily. All we need is more volume . CAUTION:- It is also important to keep booking profits on your trades since the market is at extreme greed. I'll keep posting updates on this one. Do hit the like button if you want me to post more updates on this. Stay tuned NiMNIM
Long
by nimamf56
4
BITCOIN, In Decisive ASCENDING-CHANNEL, Main Scenarios!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.
BYBIT:BTCUSD.P
by VincePrince
32
BITCOIN (BTCUSD) – Week 46 – Is the trendline holding?MicroStrategy founder and CEO Michael Saylor believes that Bitcoin (BTC) will continue to become more and more valuable if governments around the world continue with inflationary fiscal policies. In a new interview with CNBC TechCheck host Deirdre Bosa, Saylor explains that he thinks the flagship cryptocurrency will go up forever due to its capped supply, which cannot increase regardless of demand and price. He also says there is a correlation between the price of Bitcoin going up while inflation causes the value of traditional currencies to decline. Following a series of delays, the U.S. Securities and Exchange Commission today rejected investment firm VanEck's application to launch an exchange-traded fund that directly tracks the price of Bitcoin. In its ruling, the SEC again cited concerns that the Bitcoin spot market is prone to "fraud and manipulation." To date, the Commission has only allowed Bitcoin ETFs linked to futures, contracts that bet on the future price of Bitcoin and which are regulated by the CFTC, to move forward. Technically, Bitcoin is in a consolidation phase that is preparing the next move to the upside. One price target that we are looking for a potential reversal is the orange trendline marked on the chart. If this trendline is broken the price may reach the support area marked on the chart before reversing to the upside. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
BITSTAMP:BTCUSDLong
by financialflagship
1
THE RIGGED BITCOIN, PRICE-MANIPULATION UNVEILED!!!In recent times Bitcoin is showing unusual price-action as more and more banks and market makers wanting to have their stake in Bitcoin there develops abnormal price-action that should not be kept from the desk, in this case, it is necessary to be aware of such rigged price-developments and look out on what can happen in this case to not kept caught by surprised when these volatilities moving into the market. In this current situation with Bitcoin, I detected the underlying developments Bitcoin is forming and what can be derived of it, normally as Bitcoin made the new all-time-highs a continuation to the upside should follow as this is the case with proper developments however instead Bitcoin is showing signs that this continuation will firstly wait because the new all-time-high develops and a pullback back into the range happens, in this case, we can see footsteps of market makers and smart money operating in the market as Bitcoin gains more public and mainstream attraction this accelerates profoundly. Looking at my chart we can watch there the previous all-time-high which has been established on a global basis at around the 67100 USD level from where Bitcoin pulled back and reversed, we can see a similar movement going on now just on the more local terms. As it is marked in my chart with the blue box this is the zone where people rushing into the market actually getting trapped as market makers and smart money buying extensively within the 66000 to 66500 USD range marked in my chart in orange to push the prices higher and getting innocent participants to move into the market after this has been done the market is pulling back as take profits are realized from where the Bitcoin tests firstly the previous supports and when they do not hold break below them and continue to a place where market makers and smart money accumulate anew. This was the case with the previous price-action above the all-time-high already and is now happening currently similarly. Taking this into account if the pattern prevails the next accumulation for market makers and the smart money to accumulate again is between the 63400 and 64q00 USD range. In combination of this we can expect such pattern developments to increase within the next times and in this current case we need to keep patient and await what is coming around with Bitcoin rather than just rushing into the market. The news perspectives with Bitcoin and technological advancements are quite positive however when looking at the technical side of things this rigged development is omnipresent and this is where the gap between fundamentals and price-action happens. In a long term basis Bitcoin has still strong and solid fundamentals however on this short-to-middle-term-basis these conditions should not be kept from the desk and especially as traders in the market it is important to be aware of it. Because of the public attention accelerating and more and more bigger classical economy participants getting aware of Bitcoin there is a underlying possibility given that such furnished price-actions can hold on and even get stronger. Technically speaking it will now be crucial how Bitcoin continues here, if the breakout below the stop-loss-out-zone shows up this will actually complete the pattern on this local basis similarly as we have seen before, then it will be central on to elevate how Bitcoin approaches this set-up accumulation phase where smart money and market makers looking to move in again.
BYBIT:BTCUSD.P
by VincePrince
120
BITCOIN, Decisive CHANNEL-FORMATION, Important Determinations!Hello, Welcome to this analysis about Bitcoin and the daily timeframe perspectives. In recent times major developments happened in the Bitcoin field as volume and other fundamental indicators increased showing an overall positive long-term-sentiment and other news such as the broader acceptance of Bitcoin taking place however on the other side Bitcoin is still in a decisive position as it did not yet continue to print several new highs after the pullbacks of the new all-time-high developed. In this case, there are two main scenarios that I discovered important to consider, each of these will alter the bitcoin destinies in a diverging manner, in this case, it is necessary to elevate which one of these Bitcoin comes around with before continuing with further conclusions. As when looking at my chart we can watch there how Bitcoin in very recent times managed to bounce several times from the 20-EMA marked in green to the upside and has formed this massive ascending-channel-formation with the boundaries in blue, within this channel-formation Bitcoin already once completed this bullish-EMA-bounce with the 20-EMA not touching and bouncing of above the 100-EMA in black, this means that the overall trend is still up however Bitcoin is now struggling to maintain a proper breakout out of the range into a new all-time-high this is why a pullback here should not be kept from the side especially when Bitcoin firstly reverses from the level as it is seen in my chart a continuation of the pullback should be considered. Taking these factors into the consideration if Bitcoin should continue with this determination as suggested it will be highly central on how Bitcoin actually approaches the main support in this whole structure marked in my chart in blue between the 52450 and 55250 USD level. If Bitcoin manages to bounce sufficiently in this region there is the potential given for a breakout into the new all-time-high region and development of the wave E in this massive wave-count. However when this does not happen and Bitcoin closes below the support it will mark the bearish continuation to the downside and will be the origin of the main impulse downward, these are the paramount scenarios to elevate here. 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.
BYBIT:BTCUSD.P
by VincePrince
16
BITCOIN (BTCUSD) – Week 45 – Correction before the upsideToday the mayor of Tampa, Florida implied (and later appeared to confirm) on Twitter that she would be open to receiving pay in Bitcoin. The news first began to circulate this morning on Twitter and appeared to derive from comments the mayor made this morning at a conference. Mayor Castor joins other local politicians, including Miami Mayor Francis Suarez and New York City Mayor-Elect Eric Adams, who have said they are willing to be paid in the cryptocurrency. Bitcoin is considered historically undervalued according to the Glassnode Network Value to Transactions Signal indicator, which is now significantly lower than in January this year. The most recent spike in value settlement took place back in May. Currently, the Value Settlement is staying below the value of 25, which is considered "undervalued." The low ratio indicates that the market cap is significantly higher than the transactional volume in U.S. dollars. Technically, Bitcoin is making a more complex correction in this area and has a good probability for the price to drop to the support area of $56k. After that we see a continuation of the uptrend. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
BITSTAMP:BTCUSDLong
by financialflagship
3
BITCOIN, This MAJOR H-S-FORMATION Recently COMPLETED!!Hello, Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. Bitcoin on the 4-hour chart recently showed up with this heavy increased bullishness candlestick to the upside shooting above important resistances in the structure which are now support. Not only these technical developments established but also fundamentally there are news that are showing the Bitcoin network is moving forward and technical adoption of Bitcoin is taking place such as Bitcoin ETFs getting approved and the major grayscale Bitcoin investment fund should be converted into a Bitcoin ETF. Therefore I detected all the important levels and upcoming determinations we need to consider in these current determinations. As when looking at my chart we can watch there how Bitcoin made the breakout above the 63.000 USD region and increased with bullish encounters above especially after it bounced off the point-of-control-line marked in red by the volume profile. What is mainly important in this whole structure is the massive decisive inverse head-shoulder-formation Bitcoin has formed on the 4-hour timeframe perspectives that is now fully completed with the breakout above the neckline. Therefore Bitcoin now has activated the upside-targets at the 66.500 USD level marked in blue in my chart, once these targets has been reached it has to be elevated how Bitcoin reacts to these and if this is done in a strongly bullish manner because when this happens and Bitcoin after that stays in this area there can come a further setup from where Bitcoin has abilities to build up and when this happens with Bitcoin breaking out into the new all-time-high this will lead to the bullish continuation as Bitcoin will be in the bullish-continuation-zone marked in my chart in green, this will also lead to a wave-E-development, it will be an interesting journey ahead. 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! "Great fortune is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
18
BITCOIN, Decisive BROADENING-WEDGE Develops, Important Levels!Hello, Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. In recent times Bitcoin has shown up with important volatile movements in the structure and when considering the fundamental news they are equally volatile reaching from bullish developments such as the Bitcoin ETFs finally approving to bearish determinations such as regulatory issues taking place and accelerating. In this case, now I discovered the main formation Bitcoin is forming that will be a pivotal driver of the upcoming determinations, especially when it completes it will be an origin of a strong breakout and increased volatility, therefore, I discovered all the central developments, structural formations, and upcoming determinations. As when looking at my chart now we can watch there how Bitcoin is recently testing the 20-EMA in green and the 65-EMA in red again below which Bitcoin already pulled back several times previously. Besides that we can see the major formation forming here that I have marked with the blue boundaries, which is a massive broadening-wedge-formation with the coherent wave-count in the wedge and the waves A to D almost already completed. As Bitcoin is now about to finish the wave D in the structure there is an important head-and-shoulder-formation forming with the end of this wave D. In the next times it is likely that this head-and-shoulder-formation completes and points to the origin of the wave E that finalizes the whole wave-count. Taking all these factors into the consideration now we should be prepared for upcoming bearish encounters especially when this head-and-shoulder-formation completes in the structure and Bitcoin moves on with the bearish determinations this will lead to the testing of the lower support levels that can convert into an appropriate back-up-zone when Bitcoin manages to bounce within as the whole wave-count has been completed then. Once this happened and Bitcoin manages to continue with a bullish demand increase this can lead to the completion of this whole formation when Bitcoin closes above the upper boundary activating further bullish continuations and upside-targets. For now, we should not keep the immediate short-term bearish-determinations from the desk to be prepared on it and look on how Bitcoin approaches the main targets to move on with the suggested development further, it will be a crucial determination. 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! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
23
BITCOIN (BTCUSD) – Week 44 – To the moon!MicroStrategy has revealed that it bought additional 9,000 units of Bitcoin during the third quarter of the year, bringing the worth of its holdings to around $7 billion. According to the company’s Q3 report released on October 28, the intelligence firm holds a total of 114,042 Bitcoin at an average purchase price of $27,713, which roughly translates to over $3 billion. However, if its holdings are converted to the current price of the crypto king, which as of press time is above $60k, it means the worth of its BTC holding would be around $7 billion, meaning the company would make a profit of close to $4 billion if it chooses to sell its BTC. Voyager Digital, a crypto trading broker, has entered into a five-year partnership with the NBA’s Dallas Mavericks, becoming the team’s first crypto brokerage and international partner. As part of the deal, Voyager and the Dallas Mavericks will work together via educational and community programs, as well as fan engagement promotions, to make cryptocurrency more accessible to a wider audience. The partnership also includes naming rights to the Mavs Gaming Hub, which is the official gaming and event venue for the Mavs NBA 2k League team. Details about this will be “announced at a later date,” according to the press release. Technically, Bitcoin made a correction at this price zone as we were expecting and wrote about in the previous weekly reports. For this week, we give a high probability for this correction to be over and we expect a continuation to the upside. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
BITSTAMP:BTCUSDLong
by financialflagship
3
BTC, Huge Global ASCENDING-WEDGE Indicates DECADE-REVERSAL!Hello, Welcome to this analysis about Bitcoin, we are looking at the global 4-day timeframe perspectives. In recent years Bitcoin established an ongoing bull-market with continuations of higher highs in the structure, Bitcoin even managed to recover from the heavy corona-crash-breakdowns we have seen by March 2021 in a profound and unforeseeable manner. Nevertheless, we should not underestimate the continuous threats that Bitcoin needs to defend against, from the regulatory insanity that many governments want to push through to the constant disinformation campaigns against Bitcoin, therefore although Bitcoin managed to continue with higher highs in the past we should not keep a bearish perspective out of sight especially as indications are showing it as I recently developed, therefore, in this analysis I look realistically on this situation and what we should expect in the upcoming times with the crucial developments. As when looking at my chart we can see there how Bitcoin is since it moved on with higher highs and the bull-market that had its origins in the 2018 bear-market-bottom is now forming this massive ascending-wedge-formation with the coherent wave-count in the formation and the waves A to D almost completed. Now as Bitcoin bounced in the lower-boundary matching with the 15-EMA in green and the 65-EMA in red again this is the origin of the wave E to the upside which will finalize the whole wave-count and complete this paramount formation when Bitcoin moves into the upper confirmed cup-and-handle-target-zone this is likely to result in a pull-back also because of this overbought condition which will be omnipresent then. Besides that, a crucial development is also seen with the MACD which is actually forming a bearish-divergence as the price-action formed higher highs and the MACD lower highs. Taking all these factors into account here we should in any case do not keep the bearish perspective out of sight and be prepared on potential upcoming volatilities which will lead to Bitcoin reaching out to the target-zone from where the situation needs to be elevated anew. 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! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
COINBASE:BTCUSD
by VincePrince
56
BITCOIN; BEARISH PRESSURE Completed Formation, CONCLUSIONS NOW!Hello, Welcome to this update-analysis about Bitcoin and the 4-hour timeframe perspectives. In the recent times regulatory pressure on Bitcoin increased again and this manifested in real-time-price-action with bearish-pressure to the downside so Bitcoin moved on to completed this whole head-and-shoulder-formation bearishly to the downside increasing below the neckline. With the completion of this formation to the downside, Bitcoin is now in a precarious situation, although it is likely that Bitcoin firstly bounces here there are important resistances within the structure determined by the neckline marked in blue, the red resistance point-of-control line of the volume-profile marked in red, the descending-resistance-line marked in dashed red as well as the 65-EMA in red and the 45-EMA in green. Taking all these factors into the consideration there is an increased possibility given that when Bitcoin moves into these major resistances a rejection will happen from where Bitcoin will continue bearishly to the downside. Also Bitcoin with the completion of this formation activated the lower target-zone marked in blue which will be appointed then. Once Bitcoin reached out to this zone it has to be elevated how it continues from there and if there comes a possible reversal or not. In any case, the bearish scenario should not be kept from the desk here and we need to be prepared for it. 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.
BYBIT:BTCUSD.P
by VincePrince
20
SHIBA INU, HUGE Triangle COMPLETED, ROAD To New A.T.H!!Hello, Welcome to this analysis about SHIBA INU and the 4-hour timeframe perspectives. Since Shiba heavily exploded from its accumulation phase to the upside it showed up with a major altcoin-bull-paradigm within the cryptocurrency market almost replicating what Doge once did. The volume and trading activity for Shiba heavily increased in an accelerated manner never seen before and as this increase of bullishness happened Shiba became the most traded currency in coinbase. All these paramount developments can be kept from the desk and in this analysis I have a look at what is going on with this coin and if we can expect a continuation of this established bull-phase Shiba has shown up with. As when looking at my chart now we can watch there that since showing up with the massive bullishness Shiba began to form this huge ascending-triangle-formation with the coherent wave-count within the formation almost completed before Shiba Inu recently showed up with the bounce off the important and pivotal 20-EMA confirming the strong bullish breakout above the upper boundary of this absolutely central formation. Also Shiba was one of the strongest coins with this recent breakout moving several points above the previously established high and increasing with spread and volume in this case. Above the upper-boundary Shiba is now forming this triangle-formation which is confirming the breakout. The fact that Shiba formed this solid breakout above the boundary and that it is now validating the breakout with a formation gives the indication for the next main bullish wave to show up within the upcoming times as marked in my chart. When this happens and Shiba moves on forward to increase bullish demand and price-action this will lead to the new all-time-high above the previous one marked in my chart at the 0.00005 level in orange. This will be the forming of this major wave C to the upside and the overall targets of this wave are within the 0.000064 level marked in blue from where the situation in terms of bullishness needs to be elevated anew, for now, we should expect the wave to emerge as the technicals give the green light. 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! "Good fortune is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
34
BITCOIN After The Dump, H-S-Formation Develops!Hello, Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. In recent times Bitcoin managed to heavily built-up bullish price-action and shoot into the new all-time-high after the first Bitcoin ETF got its approval, this development is likely to bring on further volume and demand into the market. Nevertheless after this new all-time-high has developed Bitcoin showed up with a pullback and moved back into its range increasing heavily with bearish price-action, this was a good dynamic for us in the VIP channel to profit on the short-side. As Bitcoin now showed up with these establishments there is a pivotal formation forming that I am explicating now. When looking at my chart we can watch there how Bitcoin increased bearish price-action and moved into the 60200 USD level to initially bounce to the upside from there on, this level is also simultaneously supported by the ascending-trend-line marked in darker grey in my chart. Besides, Bitcoin has support by the 65-EMA at this level. In this case now we can expect Bitcoin to firstly bounce in this area and what happens after it will be important as Bitcoin is about to finalize this huge decisive head-shoulder-formation with the left shoulder and the head already completed, now the right shoulder remains which will complete the whole formation and show the way into either direction. Taking all these factors into the consideration now, as Bitcoin has these major supports within the structure, currently, there is a slightly higher possibility for Bitcoin to complete this head-shoulder-formation bullishly to the upside, this possibility is slightly higher with a 55% possibility compared to the 45% possibility bearish scenario, nevertheless, it will be important on how Bitcoin moves on further with this now and it is necessary to await the final confirmation here before finally moving into the direction and rush into trades that do not satisfy. When considering the bullish case fundamentally it will be important on how the ETF developments move on and if new ETFs got approval which can bring fuel to the completion of the H-S-Formation. 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.
BYBIT:BTCUSD.P
by VincePrince
22
BITCOIN (BTCUSD) – Week 43 – After the new all-time highThe American multinational retail corporation – Walmart – will reportedly allow its customers to purchase bitcoin using ATMs installed in some of its US shops. The initiative became possible following a collaboration between the retail giant Coinstar and Coinme. A credible report from Bloomberg reads that the company has joined forces with Coinstar – known for its machines that can exchange physical coins for cash. As a result, the latter provided 200 bitcoin ATMs in Walmart stores across the USA, while the broader plan is to bring that number to 8,000 in the near future. Valkyrie is launching the second Bitcoin futures exchange-traded fund (ETF) in the U.S., the company announced on Friday. Valkyrie’s Bitcoin Strategy ETF is set to trade on the Nasdaq under the ticker BTF and will track the value of Chicago Mercantile Exchange (CME) Bitcoin futures. "The approval of ETFs based on CME Bitcoin futures is a positive development for the broader Bitcoin ecosystem, and a reflection of the strong growth and client demand for exposure to Bitcoin,” said Tim McCourt, Global Head of Equity Index and Alternative Investment Products at CME. Technically, as we were anticipating in the last week’s technical report Bitcoin broke the last all-time high and created a new one. After the creation of this new top, the price action is showing us the signs of a correction before continuing higher. Potential targets for reversal are the support area at 59k or we may see a deeper pullback that may drop the price to the 53k level. We don’t have any reason to believe at this moment that the price action is reversing to a downside trend. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
BITSTAMP:BTCUSD
by financialflagship
1
BITCOIN, New ALL-TIME-HIGH, Important Considerations Now!Hello, Welcome to this update-analysis about Bitcoin and the 2-hour timeframe perspectives. The roadmap to a new all-time-high that I mentioned in the origin-analysis was now successfully fulfilled and Bitcoin made the new all-time-high as expected, if you did not see these analyses already I highly recommend them to watch to have a full-depth-overview. In recent times we saw institutional interest in Bitcoin heavily increasing especially as the very first Bitcoin ETF was approved by the SEC which makes Bitcoin tradable for the masses, because of this we have seen this massive pump in the structure with Bitcoin almost exploding into a new all-time-high increasing paramountly with spread and volume. Now as this new all-time-high developed there are important considerations that I discovered which will be meaningful in the next times for Bitcoins development. When looking at my chart we can watch there how Bitcoin moved into the new all-time-high region and after that firstly rejected in the structure which is a pivotal reaction of the market as people who had long positions open took profit in this region and in this case the pullback was expected and emerged. In this structure as I detected Bitcoin is forming now this major head-and-shoulder-formation with the left shoulder and the head already completed, the right shoulder is about to complete in the near future which will finalize this whole formation when Bitcoin moves below the neckline. When this happens the head-shoulder-target-zone marked in my chart in blue will be activated in which Bitcoin will have the ability to stabilize and back-up again, when Bitcoin manages to do so there will be potential for a bullish continuation when Bitcoin manages to increase bullish demand sustainably and finally move on with this further in the all-time-high region, for now, we should not keep the bearish correction from the desk to properly prepare on those scenarios as it should be, it will be an important development ahead. 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! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
19