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BTC, Builds GIGANTIC Trianlge- Or Bull-Flag-Formation!Hello, Welcome to this analysis about Bitcoin and the weekly timeframe perspectives. In recent times Bitcoin is still holding above the 40.000 USD which is initially a good sign however there are also still strong resistances above in the structure and in case Bitcoin pulls back from these this can lead to a move below the important psychological level of 40.000 USD again, in this case, it will be crucial in terms of the main formations forming for Bitcoin I spotted. The news is more positive for Bitcoin as Robinhood the well known online broker is launching its cryptocurrency wallet services and the congressman of Paraguay announced that he is going to make Bitcoin an official currency, all these developments showing Bitcoin is fundamentally moving forward and in this case, the actual price-action-developments are also pivotal therefore Bitcoin has to process the good news and convert it into the necessary demand boost, in this manner I detected two main potential formations to keep an eye on. Looking at my chart we can watch there Bitcoin moving in this massive high-base formation with the developments above the 100-EMA in red as well as the 65-EMA in green. Above these pivotal reference-levels Bitcoin is forming this massive potential triangle-formation with the coherent wave-count within the formation and the waves A to B almost already completed. In the next times there is a higher likelihood given that Bitcoin continues with the wave-count within the triangle-formation and in this terms with the establishment of the waves C to E which will continue if Bitcoin breaks the 40.000 USD level. When this happens Bitcoin will have the ability to complete this massive triangle with a bullish breakout to the upside nevertheless when Bitcoin shows up with exceptional increased bearish pressure in the schedule this whole triangle-formation can also initially invalidate to the downside which will happen with Bitcoin breaking below the lower boundary instead of the upper-boundary, this will lead Bitcoin to develop a wave-E-extension to the downside, in this case, the major massive bull-flag will have the potential to rightly complete. In case Bitcoin shows up with the triangle-invalidation and the bearish continuation the key support, in this case, is at the 19.200 USD level which previously was the all-time-high, when Bitcoin bounces in this area and continues to the upside this will lead to the appropriate completion of this paramount formation as a bull-flag. These are the two main considerations and scenarios significant in the next times. It is important to await either the triangle- or the bull-flag validation, when this is done the next measurements can be done with the major wave-C-developments. Fundamentally speaking it is unlikely that the bullish market is over yet and that Bitcoin will not do a new all-time-high within the upcoming months because more and more institutionals and classical economy participants looking to enter the Bitcoin and cryptocurrency space though the demand is there and increasing while the real economy is still riddled by the corona crisis and inflation is accelerating investors look for a hedge in Bitcoin however we should not underestimate the volatility preexisting in the market and prepare on these two scenarios, it will be an important journey. 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 a residue of preparation." Information provided is only educational and should not be used to take action in the markets.
COINBASE:BTCUSD
by VincePrince
62
AUDIOusdt on BinanceENGLISH ENGLISH Audiousdt this is how a shitcoin doesn't look like? Very sturdy and cleani price action to see here. clearly uptrending action seen here, and a perfect retest of the previous (first) ATH. After the break of the first ATH we see a solid pump, followed with a pullback to the tick just from the first high. Paternwise is forming a cup and handle (which is a bottom reversal pattern, and a handle that we are now working on, moreover fractal wise and in that handle we now form an inversed head and shoulder (also a reversal pattern). To project our next run up, we take the measerment targets from the handle as the cup + a confluence with the FIB extension tool. How we determine our entery stoploss and between TPs can be seen in this clear explanation video. Good luck with it and as always, this is not Financial advice, always do your own research and think / decide for yourself. Need help, you can reach us via tradingview/telegram or our webstite. E: 2.455 S: 2.071 TP: 2.951 - 3.434 - 4.160 - 4.984 - 7.415 Trade safe and until the next, cheers! Audiousdt dit is hoe een shitcoin er niet uit ziet? Zeer stevige en mooie prijsactie te zien hier. duidelijk uptrending actie te zien hier, en een perfect retest van de vorige (eerste) ATH. na de breek van de eerst ATH zien we een stevig pump, gevolg met een pullback tot op de tick juist van de eerste high. Paternwise is zich een cup and handle aan het vormen (wat een bodem reversal patroon is, en een handle waar we nu aan het werken zijn, bovendien fractal wise en in die handle vormen we nu een inversed head and shoulder (oook een reversal patroon). We nemen om onze volgende run up te projecteren de measerment targets van bij de handle als de cup + een confluence met de FIB extension tool. Hoe we onze entery bepalen stoploss en tussen tp's kun je zien in deze duidelijke uiteenzettings video. Veel succes ermee en zoals steeds, dit is geen Financieel advies, doe steeds je eigen onderzoek en denk/beslis voor jezelf. Hulp nodig, je kunt ons via tradingview / telegram of onze webstite bereiken. E: 2.455 S: 2.071 TP: 2.951 - 3.434 - 4.160 - 4.984 - 7.415 Trade safe en tot de volgende, cheers!
by MyPileus
BITCOIN (BTCUSD) – Week 38 – Bullish continuation Maxime Bernier, founder and leader of the People's Party of Canada, has said he supports the adoption of cryptocurrencies in the country. In a Tuesday tweet, Bernier said cryptocurrencies are “another new and innovative way” to counter the actions by central banks, which he claimed are “destroying our money and economy.” The Canadian politician has criticized the Bank of Canada for “printing money” and called out Prime Minister Justin Trudeau for his economic policies. Fidelity Digital Assets published the 2021 Institutional Investor Digital Assets Study that tracked institutional investor's behavior in the face of the delicate situation traditional markets endured for the past year. Considering all investors surveyed across the globe, 52% of respondents said they invest in bitcoin or cryptocurrency, and 9 in 10 investors find those assets appealing. Notably, 84% of European high-net-worth investors said they are invested in the asset class. Technically, Bitcoin behaved as we predicted in our last weekly report, it reached the resistance area, made a consolidation and now it is breaking out of the structure. The higher probability move for the main cryptocurrency is a continuation to the upside. There may be consolidations along the way but there are no signs of reversal yet. 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
8
BEL vs BTC - BinanceBella protocol. ENGLISH Bella protocol. Were seeing on the graph We see on this chart a nice number of patterns playing out this especially hinting in the bullish zone. A double bottom, a rising channel and a larger ascending triangle, all in a premature state, but that's just what we need to enter safely. Better to get in early and see it evolve with a feeling of letting it sink in and rising we are low enough in that to want to enter the sharp of the cut all the time. You can only harvest when you sow ;-). Therefore, safe long setup E: 4178 S: 3214 T: 5429 - 6289 - 6961 - 8315 - 10006 DUTCH Were seeing on the graph We zien op deze grafiek een mooi aantal patronen uitspelen dit vooral hinten in de bullish zone. Een double bodem, een rising channel en een grotere ascending triangle, allen in een premature staat, maar dat is net wat we nodig hebben om safe te enteren. Beter vroeg erin en zien evolueren met een gevoel van laat maar even zakken en stijgen we zitten er laag genoeg in dat om het scherp van de snede steeds te willen enteren. Je kunt pas oogsten als je zaait ;-). Daarom, safe long setup E: 4178 S: 3214 T: 5429 - 6289 - 6961 - 8315 - 10006
Long
by MyPileus
2
Bitcoin MEGA Bull Run Not Over Yet---Something Big Coming SOON.#BTCUSDT Exclusive TA Update :- $BTC currently trading near to $48000. I am purely bullish on Bitcoin trend so I am marking entries at 3 Points. Entry 1:- $46500 Entry 2:- $44200 Entry 3:- $38812 Here i'm Elaborating all possible Scenarios in this chart with all perfect possible understanding:- :- First it need to break Red Line resistance for Upward movement. If break out this red line resistance then we can set 1st Target around $52000 and 2nd Target around $58000. After break $58000 then we can Expect New All time high towards $100k :- Below this Resistance line we can see Retracement Max around -20% Above Black Line We can see #MEGA_BULL_RUN But Keep an mind worst scenario as well. If break down $38800 support zone then we will enter in #DANGER_ZONE Please Guys Don’t forget to LIKE if you really Happy with my analysis. Thank you.
Long
by CryptoPatel
24
CRYPTO-CAP, Upcoming Scenarios, How Potential A-T-H Establishes!Hello, Welcome to this analysis about the TOTAL CRYPTO MARKET CAP which includes BTCUSD and its 4-hour timeframe perspectives. As I discovered the Crypto-Cap has formed some quite interesting developments as it was near the all-time-high region before the bearish dump to the downside finally emerged. Now in this whole structure I detected an important formation forming that can lead the Crypto-Cap to new all-time-highs sooner or later nevertheless for now it is important to keep patient and elevate how the Crypto-Cap develops in the near future before rushing into trades that do not satisfy, therefore I determined all the important levels, upcoming establishments and possible scenarios we should consider. When looking at my chart now we can watch there how the Crypto-Cap has its all-time-high within the 2.484 TRILLION regions as marked in blue in my chart, therefore, the total crypto-cap came nearer to its all-time-high region than for example it is the case with Bitcoin. After the dump has shown up here the Crypto-Cap moved on to test the dynamic ascending-support-zone marked in blue in my chart which it already marked several times as support before. Now the total Crypto-Cap is also within this main descending-channel-formation marked with the boundaries in dashed dar grey, within this channel the Crypto-Cap has its coherent wave-count to the downside with the wave A already completed and with the wave B forming now, this wave B will directly run into the resistance cluster from where a pullback will be highly likely which then will mark the beginning of the wave C to the downside testing the dynamic support-zone anew, this will be crucial because this zone needs to hold for the Crypto-Cap to bounce and form a breakout above into the bullish direction which can lead to a new all-time-high here, otherwise when the support does not hold the bearish pressure will continue and this will lead to a wave-C-extension. 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.
CRYPTOCAP:TOTAL
by VincePrince
6
BITCOIN, Double- Or Triple-Bottom-Formation, Important Zones!Hello, Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. Bitcoin since showing up with the increased continuations to the downside has found initial support at the lower support-zone of 44200 USD and as I discovered now there is an interesting formation forming that can lead to upcoming increased volatilities within the schedule, therefore it is necessary to do not overspeculate the situation and to wait on the right confirmations before rushing into the market, therefore as I detected when Bitcoin shows up with these pivotal confirmations there are great potentials given, in this case, I am looking at the important levels, likely scenarios, and upcoming determinations. When looking at my chart now we can watch there how Bitcoin recently bounced above the 46880 Usd level that is marked in blue and which is the neckline of this main double-bottom formation Bitcoin formed here. Technically this formation is completed and confirmed now as Bitcoin also managed to bounce above the 50-EMA in red and the 100-EMA in green and there is a good potential given that Bitcoin continues from here nevertheless there it is not seldom seen that such a breakout above the neckline of a double-bottom turns out to be a bull-trap, in this case, Bitcoin needs to show if it can hold this level here rightly or firstly pulls back below the neckline which can lead to the test of the lower levels. When Bitcoin manages to hold this level here properly and increases with demand in the structure the dynamic target-zone marked in my chart in the descending-resistance-line has a decent ability to be approach. It will be important how Bitcoin reaches this potential target-zone because when this happens with high volatility and high volume there is the possibility given that Bitcoin builds up further bullishly to move into the bullish-continuation-zone, in any case now Bitcoin needs to show if this crucial neckline holds or a pullback firstly develops, such determinations are always always very central to watch out for because we are trading what we see and not what we think, therefore it will be a important journey ahead. In this manner, thank you for watching my analysis about BITCOIN and its major distribution-fractal compared to the previous and central upcoming determinations to consider, support the analysis with a like and follow or comment for more market insight! "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 market.
BYBIT:BTCUSD.P
by VincePrince
12
BTC, Major DISTRIBUTION-FRACTAL Finalized, Conclusions AHEAD!Hello, Welcome to this Update-Analysis about Bitcoins Major Bearish Distribution-Fractal I spotted in the origin-analysis, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview. As the fractal now finally completed with the main wave G completing the wave-count I talked about in the origin-analysis with Bitcoin also breaking below the main trend-line and below the 20-MA in blue this was the full completion of this massive fractal exactly with the same developments and elements like within the first fractal just on a more local scale. Now as these determinations developed I discovered further important signs, structural formations, and upcoming determinations that are pivotal in these dynamics. Taking a look on the major recent news emerged in the last times we can watch there that there is the main discrepancy between the news release which are in a more or less higher majority bullish and the actual price-action Bitcoin developed which included this heavy bearish dump, this is playing into the theory of the divergence in news releases and the misleading of public and the actual Bitcoin price-action-dynamics. As El Salvador emerged as the first country adopting Bitcoin the market crashed on the same date however in the middle-to-long-run this legal tender adoption can lead to an increase in Bitcoin demand as there is a 400 Million US-Dollar wealth transfer likely to happen in El Salvador from classical payment providers such as Western Union into Bitcoin. On the other side, there is news that fueled this heavy bearish pullback to the downside such as China tightening restrictions on Bitcoin or the SEC moving forward with regulatory measurements. These factors contributing to the bearish dynamics Bitcoin showed up with and continued development in the caused actions can even increase further supply in the near future. When looking at my chart now we can watch there how Bitcoin now recently fully completed the fractal-wave-count and moved below the trendline as well as the 20-MA therefore the whole fractal was completed with highly increased bearish volume as expected. Now as Bitcoin found support above the 43500 USD area there is an increased potential given that Bitcoin has the ability to bounce back and test the 20-MA again however when considering this whole structure the 20-MA is now a strong resistance from where a pullback has an increased likelihood this is why a pullback from this retest is definitely within the possible spectrum, therefore, when Bitcoin does not manage to hold the 43000 USD zone sustainably and further supply enters the market this will lead to a continuation to the downside when Bitcoin breaks this level, when this happens the main fractal target zone will be around the 35500 USD level marked in blue which is also the equivalent of the beginning of wave-B similar as it developed in the first fractal already, then Bitcoin needs to show how it approaches these zones, it will be an important development ahead. In this manner, thank you for watching my analysis about BITCOIN and its major distribution-fractal compared to the previous and central upcoming determinations to consider, support the analysis with a like and follow or comment for more market insight! "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.
BYBIT:BTCUSD.P
by VincePrince
85
FIOusdt on BinanceFIOusdt on Binance ENGLISH What do we all see? The market structure tells us that we are still in an uptrend on macro vieuw, maw if we look at all the candles together it gives us the weather of an uptrending asset. As a result, we automatically look for a long entery. Short overview of our drawing tool layers: VPVR indicates to us that we are on support Momentum represents a ranging phase, (in favor of a long), ranging has a chance of a pullback (buy moment). OBs put us that e are closer to support Trading ranges, there we see an lvl that we are now trading for, close below it is high chance to pullback, close above it is high chance of further uptrending As always, we are going to determine the most ideal entery - stop and branch proftits via our own layer system. given that the current market phase altcoin remains bullish tinged, we are also going to hunt for extend targets via the Fib; extention. Our extra layer of BIASlines (under construction) will allow us in the future to skip the fib, extension and prices to projects higher than the current trading area. as always, these will have the accuratity that we have gained from the MYpileus drawing tools. Well now the game plan: through the confluence strategy we arrive at the next lvl's - zones. *attention, this is an obvious swing trade, respond appropriately with positionsizing! Entery: Market - 0.0.2022 - 0.1834 - 0.1574 Stoploss : 0.1478 Take profit: 0.3268 - 0.4088 - 0.4744 - 0.5659 - 0.8145 - 1.2392 Wat zien we allemaal? De market structure zegt ons dat we nog steeds in een uptrend zitten op macro view, maw als we alle candles samen bekijken geeft deze ons de weerspiegeling van een uptrending asset. Hierdoor gaan we automatisch op zoek naar een long entery. Korte overview van onze tekentool lagen: VPVR geeft ons aan dat we op steun zitten Momentum geeft een ranging fase weer, ( in het voordeel van een long), ranging heeft kans op een pullback (buy moment). OBs zetten ons dat e dichter bij steun zitten Trading ranges, daar zien we een lvl waar we nu voor aan het traden zijn, close eronder is high chance tot pullback, close erboven is high chance van verdere uptrending We gaan zoals steeds via ons eigen lagen systeem de meest ideale entery - stop en tak proftits bepalen. gezien de huidige market fase altcoin blijven bullish getin, gaan we ook voor extend targets jagen via de Fib; extention. Ons extra laag BIASlines (under construction) zullen ons in de toekomst in staat stellen om de fib,extension over te slaan en prijzen te projecten hoger dan het huidige trading gebied. zoals steeds zullen deze de accuratheid hebben die we gewon zijn van de MYpileus tekentools. Goed nu het gameplan: via de confluence strategie komen we op volgende lvl's - zones uit. *opgelet, dit i s een overduidelijk swing trade, reageer gepast met positionsizing! Entery: Market - 0.0.2022 - 0.1834 - 0.1574 Stoploss : 0.1478 Take profit: 0.3268 - 0.4088 - 0.4744 - 0.5659 - 0.8145 - 1.2392
Long
by MyPileus
2
BITCOIN, Relief-Rally Incoming BUT Crucial Resistance Above!Hello, Welcome to this analysis about Bitcoin and the 4-hour timeframe perspective. As Bitcoin recently showed up with the heavy bearish dump to the downside which was the completion of the ascending wedge formation I mentioned previously Bitcoin now found initial support above the 44.000 USD level and is somewhat building up here nevertheless as I discovered now there are important structures that should not be kept from the desk as it is not unlikely that after such a dump which also printed a huge bearish engulfing candle on the weekly timeframe further downside happens, therefore I detected what are the important zones and upcoming determinations especially with consideration of the potential incoming relief rally. When looking at my chart we can watch there how Bitcoin formed this massive ascending-channel-formation marked with the black boundaries, the lower boundary of this channel is where Bitcoin recently bounced and now moved into this ascending-triangle-development with the wave-count within this triangle. In this triangle the upper-boundary consists of this first resistance and in the triangle Bitcoin is forming the coherent Fibonacci-wave-count between the 43.000 USD and 47.000 USD level with the tightening range and the waves A and B completed, now with the remaining waves C till E this whole ascending-triangle can complete with a local upside-breakout which will be the origin for a wave-E-extension bringing Bitcoin to test the upper 50.000 USD resistance mark which is the main psychological resistance in this whole structure. Once Bitcoin completed the triangle and emerged with the bullish developments to test the second resistance it will be significantly pivotal on how Bitcoin reacts to this zone because when there emerges a strong bearish rejection to the downside this can lead to a breakdown below the lower boundary of the channel and in consequence of this Bitcoin will continue till the next lower supports are reached at around the 40.550 USD level. Otherwise when this does not happens and Bitcoin stays above the upper-boundary possibly showing further increased bullish signs this can lead to the building of a further bigger ascending-triangle that can form a similar breakout to the upside just in a broader aspect, in any case, it will be necessary to keep patient and elevate on how Bitcoin approaches this crucial second resistance because this will determine further conclusions. 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.
BYBIT:BTCUSD.P
by VincePrince
25
BITCOIN (BTCUSD) – Week 37 – “Trapped” between 2 zones?According to a new survey reported by local daily Globo, 48 percent of Brazilians want to follow El Salvador's lead and declare Bitcoin an official currency. The share of Brazilians who say that they would not invest in crypto has dramatically dropped from 33% in 2020 to just 12% in 2021. Security concerns, high volatility and a lack of money are cited as the top reasons. By establishing a law that legalizes and regulates bitcoin, Ukraine has taken a step that few other nations have contemplated. Ukraine's parliament has enacted a measure aimed at making cryptocurrencies safer for users, with the goal of assisting companies and individuals to grow. Ukrainians will officially be able to own, trade, and exchange cryptocurrencies using local or foreign exchanges that are registered in Ukraine. Hryvnia, the national currency, will remain the sole means of payment regarding the exchange of goods and services, but crypto will be officially recognized as an asset. Because everything is larger in Texas, it's no wonder that the Lone Star state is preparing to become America's next Bitcoin (BTC) hotspot. Texas has passed two bills that ensure bitcoins are recognized under state business law. Texas House Bills 4474 and 1576 both took effect on Sept. 1, after being signed into law by Governor Greg Abbott this past June. Technically, Bitcoin made one more high since last week’s report and then broke the blue trendline marked on the chart with a sharp retracement. Now it finds itself in a consolidation phase. We think it will retest the support area once again (higher probability) before going to the upside. If the price breaks the support area and it stays there in consolidation, a continuation to the downside becomes probable. If the price goes higher from here we have to study the price action at the resistance area to see where it will go next. 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
2
BITCOIN-WEEKLY, Approach Of Crucial-Zones, Upcoming Scenarios!Hello, Welcome to this analysis about Bitcoin and the important weekly timeframe perspectives. As Bitcoin in recent times showed up with the heavy bearish breakdowns to the downside not only seeable on the more local perspectives but also on the higher timeframes such as the weekly now looking at there are some pivotal determinations Bitcoin has now developed and formed the structure. in the current phase, it is necessary to look at what Bitcoin will come around with finally before rushing into set conclusions and overspeculating the market into a one-sighted direction, therefore I detected all the important levels, upcoming determinations, and scenario considerations we need to watch out for in the upcoming times. Looking at my chart we can watch there how Bitcoin has formed these three major ascending-trend-lines marked in black. The first ascending-trend-line was already broken before Bitcoin moved to test the second ascending-trend-line and bounce off the structure which was indicated. These three trendlines determine the strength of the bullish trend, when the first trendline is broken this means bulls have lost momentum and it is an indication that the second trend-line will be reached which happened. When the second trendline is broken to the downside bulls lost more momentum and it is the same as with the first, it is an indication that the third trendline will be reached, for now, Bitcoin is still above the second trendline. Besides this trendline also formed this descending-channel-formation at which upper-boundary the recent bearish breakdown had its origins as it is well seeable in the chart. With Bitcoin developed now this bearish engulfing candle there is a high possibility given that minimum lower lows will be formed which will then approach this major dynamic ascending-support-zone marked in orange in my chart where several supports coming together such as the price-action-support marked in blue, the second ascending-trend-line and also the 50-MA. With Bitcoin approaching this level a bounce to the upside is likely and should be expected also because Bitcoin formed this pivotal MACD bullish-crossover. With Bitcoin bouncing in the suggested zone does not mean it is fully out of the woods as Bitcoin needs to hold this level really substantially and does not mark below it because this can also increase bearish pressure in the bearish-continuation-zone, also when Bitcoin holds the level and bounces there is the possibility given that Bitcoin moves further to test the 60000 Usd resistance which will be crucial as it will be the completion of the wave-count and a pullback is likely, after that there is still the second ascending-trend-line which Bitcoin needs to hold and do not break to the downside. These are the main things now and it is inevitable to keep patient and wait for the validations, in any case the bearish perspective should not be underestimated. 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.
BITSTAMP:BTCUSD
by VincePrince
28
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.
by VincePrince
9
BITCOIN-DUMP-UPDATE, Considerations After The Initial Drop!Hello, Welcome to this update-analysis about Bitcoin and the daily timeframe perspectives. What a massive dump occurred here which has a very unnatural price-action, it would not be the first time a manipulated dump occurs within cryptocurrency however as mentioned in previous analysis Bitcoin was likely to show up with the bearish price-action to the downside recently emerged sooner or later which now happened and Bitcoin massively dumped to the downside amidst the legal tender adoption in El Salvador which can now be a factor of initial demand coming into the structure. If you did not see the previous analysis already I highly recommend it to watch to have a full-depth-overview as this analysis is building a coherent follow-up I detected further important signs, structural developments, and upcoming determinations that will determine Bitcoins journey. As when looking at my chart we can watch there how Bitcoin since my previous analysis has moved above the 50.000 USD mark and formed the final bull-trap above this mark as the bullish momentum was rather weak and Bitcoin did not held these levels in a high-base-formation appropriately the pullbacks showed up which then converted into the dump. What we have also seen with this bounce above the 50.000 USD mark is the bearish fractal Bitcoin already developed before now came across again. Mainly Bitcoin now reached the initial drop-zone marked in my chart in blue between the 42.000 USD and 44.000 USD level which is serving as appropriate initial support from where Bitcoin can build up as already mentioned and expected in the former analysis, nevertheless, it is likely that as Bitcoin now has the 50.000 USD mark as resistance the main pullback from there on firstly establishes. Taking these determining factors into the consideration it will be highly decisive on how Bitcoin approaches the now psychological resistance of 50.000 USD and if the pullback that is likely to develop from there happens strongly or not so, when the bearish momentum is slowing down Bitcoin will have the ability to complete the normal ABC-correction without an extension above the 42000 USD otherwise when Bitcoin increases further heavily with bearishness this will lead to the wave-C-extension and Bitcoin will test the lower zones. This shows one more time how volatile the cryptocurrency market is and how swiftly it can change direction with market makers or without it is staying volatile and this is why we need rightly assure such situations as traders as we have also managed within the VIP channels making some great advancements on the short-side, not only with Bitcoin, 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! Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
35