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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
Massive Cup-Handle-Formation Can Boost BITCOIN To New Highs!Hello Traders! Welcome to this analysis about BITCOIN, we are looking at the 2-day timeframe perspectives. Bitcoin in recent times moved on to initial breakout and form a new high in the structure however there is still a massive resistance holding on and the possibility for a pullback is not yet from the desk here however as I discovered now Bitcoin is about to form a very interesting formation that when it completes has the ability to boost Bitcoin to new highs, therefore it is of pivotal necessity that Bitcoin does not develop price-action that can invalidate this whole formation again however when it does not happen and Bitcoin finalizes the formation properly it will be the origin of great volatilities to be expected. In the last weeks, we saw Bitcoin constantly forming higher highs in the structure while simultaneously developing a bearish divergence on the oscillator side which I already explicated in the former analysis. Although China is moving on with the restriction of Bitcoin trading and mining the Bitcoin price managed to advance, this shows relative strength in the structure and as El Salvador's final adoption of Bitcoin as legal tender is emerging tomorrow this can be an additional indication for increased demand moving into the market. Therefore when considering a pullback in the near future there is a solid support and demand given that provides the fundament for bullish stabilizations and corresponds with the cup-handle-formation I detected. Taking the look on my chart we can watch there how Bitcoin already completed the main cup of the cup-and-handle-formation and now moved on to test the neckline marked in black in my chart, this neckline is also resistance, besides this Bitcoin has also horizontal resistance within this area formed by past price-action and also completed a wave-count recently. These events pointing to a pullback likely to develop in the near futures, it is possible that Bitcoin moves a little higher to form the next bull-trap however the pullback-development should be expected as momentum is also slowing down. Once this has emerged it will be a crucial development to complete the whole formation with the handle. Once the pullback established Bitcoin will approach the lower levels of support marked in my chart in the green area where Bitcoin has paramount support between the 41325 and 43450 USD level, when Bitcoin approaches these zones it is likely that a bounce in this structure occurs that pushes Bitcoin to finally complete the whole formation with a breakout above the neckline, for now it is also possible that the handle completes before this support when the demand in the structure is that much increased that Bitcoin easily bounces therefore it will be central to see how Bitcoin approaches these levels. The whole formation will be completed when Bitcoin finally bounced and stays above the neckline, this will activate all-time-high upside-targets, it will be a 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! Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
75
How BTC Will Be Able To Approaching The Main 67K ATH-Resistance!Hello, Welcome to this analysis about Bitcoin and its weekly timeframe perspective. In the previous analysis, I mentioned already that Bitcoin since developing the candlestick-formation three white soldiers and the breakout above the 20-MA in blue which it did not do since the corona-breakdowns-recovery has confirmed a bullish edge that can form further bull-market-conditions in the upcoming times. Now considering this it is not seldom seen that after such a major breakout a pullback to breakout origin firstly happens before a stabilization in the level can emerge and the asset will have the ability to push to new highs ahead. As already said in previous analysis the pullback for Bitcoin is likely to emerge within the upcoming times because of several factors, mainly it is because Bitcoin approaches the crucial resistance and also has several bearish divergences, in this case now I discovered further factors that will be pivotal in the upcoming times. When looking at my chart we can watch there how Bitcoin since forming the breakout above the 20-MA moved on to test this upper-boundary of the internal ascending-channel-formation that is marked in orange in my chart, this boundary is resistance and besides that Bitcoin has also horizontal resistance in this level, now together with the local factors I suggested already in previous analysis the pullback is likely to happen, after that, it will be a decisive development on how Bitcoin approaches this confirmation-bounce-cluster marked in blue in my chart because this is a level which needs to behold also matching with the lower boundary of the ascending-channel and the 20-MA, when Bitcoin manages to bounce substantially in these regions it will be the origin of the wave C to the upside within the wave-count with Bitcoin having the abilities to approach the main upper-resistance-level at 61700 which will be a fundamental step into the bullish direction. 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.
COINBASE:BTCUSD
by VincePrince
10
BITCOIN (BTCUSD) – Week 36 – Upside continuationAccording to a recent survey conducted by the Central American University (UCA), a Jesuit university headquartered in El Salvador, the majority of Salvadorans oppose the acceptance of Bitcoin (BTC) as legal money in the country. While a whopping 67.9% of the 1,281 people polled expressed strong opposition to the usage of bitcoin as legal currency, 32.1 percent of citizens, on the other hand, were just satisfied with the choice. Bitcoin is becoming increasingly popular in Russia, a survey found. The Russian Association of Currency Brokers (AFD), a local self-regulatory organization that focuses on the foreign exchange (forex) market, surveyed Russian investors to gauge their perception of Bitcoin and cryptocurrencies. Nearly 77% of those polled in the survey said Bitcoin and cryptocurrencies are the "most forward-looking" investment on their radar. That contrasts to gold, which was picked as the best investment by only 8.8% of those surveyed. Franklin Templeton, the $1.5 trillion asset manager recently shared several job postings that indicate the mutual funds' company might be pivoting toward the digital asset space. The series of job postings hint that Franklin Templeton is staffing up to execute trades for the two leading cryptocurrencies, bitcoin (BTC) and ether (ETH). The mutual fund firm posted two job openings earlier this week, one for a trader and the other for a researcher. Technically, Bitcoin broke the local top of $50k again and now it’s making a consolidation in this area. For Bitcoin we see either a move to the upside after this small correction is over or a bigger retracement that could reach the support area marked on the chart before continuing higher. If the price breaks the support area the higher probability scenario is a bigger correction in this area before 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
5
Bitcoin, Triangle Or Double-Top, Upcoming Possibilities!Hello, Welcome to this analysis about Bitcoin and the 12-hour as well as 4-hour timeframe perspectives. Bitcoin in recent times moved on to test a second time the important psychological level of 50000 which can confirm as resistance or also as support when Bitcoin manages to bounce above it however at the moment it is still resistance and in this case, it is necessary to elevate how Bitcoin proceeds further here. Basically, there are two formations forming of which one can show a bullish breakout and the other complete a bearish formation, as I discovered there are the underlying possibilities given with a higher bearish scenario possibility when considering also the oscillator conditions and other technical factors nevertheless these possibilities can change also again, therefore I detected all the important levels, upcoming determinations, and potentials we should consider with Bitcoin. 12-Hour Chart Left Side / Divergence Indications And Diverging Possibilities: As when looking at the 12-hour timeframe-perspective chart on the left side we can watch there how Bitcoin is now still above this main ascending trend-line marked in black and the 30-EMA marked in red, these elements holding the bullishness to the upside for now and above the ascending-trend-line Bitcoin is now showing up with the attempt to form an ascending-triangle in the structure marked in orange in my chart however Bitcoin is also forming a potential double-top-formation here as Bitcoin already rejected initially off the 50100 resistance a second time it is also the approach to form a double-top here. Besides that what increases the bearish scenario possibility is Bitcoin has developed a bearish divergence in the RSI as well as the MACD together, this is why the bearish scenario possibility with Bitcoin completing the double-top has a higher possibility of 65% as for now. 4-Hour Chert Right Side / Higher Likelihood Bearish Double-Top Scenario: Now as when looking at the 4-hour chart on the right side we can watch there the currently more likely double-top-formation scenario, as Bitcoin firstly has the resistance within the structure, secondly has the bearish divergences on the oscillator-side and thirdly already rejected off the resistance this scenario has a higher possibility to complete. Basically the double-top will complete with two confirmations before that the double-top will not have been fully confirmed and the possibility for the triangle-completion will still be given. Therefore the first confirmation of the double-top will happen when Bitcoin breaks out below the 100-EMA in red and the ascending-trend-line, once this is done the second confirmation will happen with Bitcoin finally breaking out below the neckline at 46750, this will be the full completion of the double-top and Bitcoin will look for the target-zone from where Bitcoin needs to show how to proceed further. In this manner, thank you for watching my analysis about BITCOIN and its current possibilities 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
28
BTC And Altcoins Developed Divergence, Potential Altseason!Hello, Welcome to this analysis about Bitcoin in comparison to the Altcoin Market-Cap, we are looking at the 4-hour timeframe perspectives. Especially in these times, the divergence between certain cryptocurrencies is increasing more and more while there are cryptocurrencies that form bullish structures and developments, there are others forming more neutral patterns while others developing bearish movements. These divergences are highly important to assess for a potential arbitrage within the market and as I discovered Bitcoin and the Altcoin Market-Cap recently developed an increased divergence especially as the Altcoin Market-Cap formed an upside-breakout while Bitcoin is still in the range, such a beginning increase of divergences can indicate an upcoming Altcoin-Rally as we have seen them already severely in the past. Structural Developments: In this manner as when looking at my chart, we can watch there that both Bitcoin and Altcoins formed this ascending-trend-line in the structure marked in black in my chart, furthermore the time and price in which the divergence began is marked in blue, while Bitcoin trended slightly bearishly to the side and downside to make lower lows in the structure the altcoin market-cap managed to build up in this range to set up for the upside-breakout. The main difference is here how Bitcoin and the Altcoin Market-Cap reacted to the ascending-trend-line, while Bitcoin formed a clear breakout below the ascending-trendline the Altcoin Market-Cap bounced to the upside within the ascending-trend-line, also the Altcoin Market-Cap is way above the 100-EMA in red while Bitcoin has severely tested this EMA which is more bearish. Upcoming Determinations: Taking these factors into the consideration now in the next times a pullback in both pairs is more likely to consider nevertheless it will be a different way on how these two pairs will develop in this pullback. With Bitcoin it is more likely that it firstly stays below the orange trendline as this trendline is serving as resistance while with the Altcoin Market-Cap it is the case that it formed actually a breakout above this orange trendline, therefore there is a higher likelihood given that the Altcoin Market-Cap confirms the trendline as sufficient support and builds up above this support, when such development happens there is a higher possibility given that the divergence increases more and Altcoins tend to rally further as they already started with this main range-breakout, nevertheless it will be important how both pairs react into the orange trendline given in both of them. In this manner, thank you for watching my analysis about the BITCOIN and ALTCOIN Comparison and what are the pivotal points to consider in this case in the next times, 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
20
B-Cash, Descending-Channel, Potential Bull-Flag When Completed!Hello, Welcome to this analysis about Bitcoin Cash, we are looking at the 4-hour timeframe perspectives. In recent times Bitcoin Cash has developed an interesting structure and especially with the formation I discovered here will have the ability to increase volatility and complete the formation with a substantial breakout, therefore it is necessary that Bitcoin Cash on the way shows up with the proper price-actions and does not move forward with developments that can invalidate the formation again, when this does not happen and Bitcoin Cash rightly finalizes the whole structure appropriately this can be the origin for great determinations, therefore I discovered all the important levels and upcoming determinations. Structural Developments: As when looking at my chart now we can watch there how Bitcoin Cash has emerged with this major descending-channel-formation marked in my chart with the black boundaries, within this formation Bitcoin Cash has established a coherent wave-count with the waves A to D already completed, now Bitcoin Cash is about to form the wave E in the structure and as marked in orange in my chart there is this local bear-pennant-formation that is building the local wave-B in the wave-count to the downside. When this local bear-pennant has been completed this will lead to Bitcoin Cash further increasing bearish price-action and continue with the wave-E-development till the lower levels are reached and the wave-count finalized. Upcoming Determinations: Once the wave-count has been finalized this will happen within the lower dynamic-support-and-target-zone marked in my chart in blue, there is a high likelihood given that when Bitcoin Cash reaches this zone a bounce within this structure will emerge as firstly the wave-count will be finished and secondly the substantial supports are given. When Bitcoin Cash manages to bounce appropriately within this structure and increase bullishness in a way that it finally completes a potential breakout above the upper-boundary of this whole channel it will be the setup for further continuations to the upside as the channel-formation will be completed as a bull-flag, it will be an interesting journey ahead. In this manner, thank you for watching my analysis about BITCOIN CASH and the descending-channel-formation with the potential to complete as a bull-flag, support the analysis with a like and follow or comment for more market insight! "Good luck is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the market.
COINBASE:BCHUSD
by VincePrince
14
BITCOIN, Completes MAIN H-S-FORMATION, These Are OBJECTIONS!Hello, Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspectives, the recent events, the established formational structure and what we should consider in the upcoming times. As already mentioned in previous analysis Bitcoin has developed a structure where it is forming a decision-phase between the 46000 to 50000 Usd area, that being said that Bitcoin after completing the pattern here is likely to increase volatility and as the indications show up at the moment the initial bearish breakout to the downside has a higher possibility, this does not mean Bitcoin is completely bearish however in any case the bearish perspectives should not be kept by side here, therefore I detected the underlying formation and upcoming determinations we should consider with Bitcoins established structure and the price-actions to expect in the incoming terms. Structural Developments: As when looking at my chart we can watch there how Bitcoin has moved on to form this main decisive formation in this whole structure, this formation is a head-and-shoulder-formation and it is in most occasions a formation that indicates a bearish reversal to the downside when completed in a way that it is not invalidated again. In this manner, Bitcoin already completed the vast majority of the technical parts of this formation with the left shoulder, the head, and the right shoulder. Recently Bitcoin continued with a crucial price-action as it bounced below the neckline with this increased volatility spike on high volume and bearishness, this means the whole formation is completed technically, also playing into this development is the fact that Bitcoin is now trading below the 100-EMA which was a significant support-base previously. Upcoming Determinations: Taking all these factors into the consideration here now what we should expect in the upcoming times is that Bitcoin continues with the bearish developments as Bitcoin also activated the downside targets. Therefore Bitcoin is about to form this confirmational bearish pattern below the neckline which can complete as a bear-flag or just a retest of the neckline to setup and continue further bearishly. In some occasions such a formation can also invalidate to the upside, this is when the asset manages to increase bullishness in such a manner that the price-action has the ability to back-up and bounce above the neckline again to continue further bullishly. Such a price-action should be watched here however when it does not happen Bitcoin is likely to reach its downside-target-zone marked in my chart in blue from where the situation needs to be elevated again, it will be an important development ahead. In this manner, thank you for watching my analysis about BITCOIN and its main head-shoulder-formation with the upcoming determinations crucial 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
11
BITCOIN, Decisive DISTRIBUTION-FRACTAL Develops ONCE AGAIN!Hello, Welcome to this analysis about Bitcoin, we are looking at the daily timeframe perspectives. As I discovered in my analysis Bitcoin in the last times is developing a decisive fractal that already completed before in a broader scale and as I detected there are exactly the same elements and determinations given that formed before now only in a other perspective, in any case, there is the possibility given for an increase in bearish pressure next times. We all have seen how fastly the market can switch once the final confirmation happened and how these bearish developments can accelerate once higher entities are pressuring Bitcoin such as China blocking Bitcoin miners or bigger companies ending with Bitcoin payments, such events can bundle a trend strength into the bullish or also into the bearish direction especially when combined with the underlying technical factors of which I detected are pivotal with the fractal Bitcoin develops. Bitcoin Distribution-Fractal Elements And Phases: A.) Wave-Count-To-Fractal-Completion And Decreasing-Momentum-Cycle: As when looking at both fractals we can watch there Bitcoin in the first fractal completed this central wave-count-to-fractal-completion with the waves reaching from A to G in the structure till the wave-count finalized and marked the actual reversal with the final fractal-top at the end of wave G. The wave-count formed subsequent higher highs and higher lows till the final breakdown happened and combined with this wave-count there is the decreasing-volatility-cycle marked in red with the volume decreasing more and more the more higher highs formed. The very same movement is now seen with the next distribution-fractal with the waves already finished from A to F and the wave G remaining together with the low-volatility cycle. B.) Confirmation Elements Reaching From 1.) To 3.): Combined with the Wave-count-to-completion-cycle and the decreasing-momentum-cycle there are also the confirmation elements serving a pivotal aspect in this whole fractal development. In this case there are the three major confirmations reaching from 1.) to 3.) with first confirmation showing the breakout below the first trendline, the second confirmation showing the breakout below the second trendline together with the breakout below the 20-MA high volatility, and the third confirmation showing the highly increased volatility spike simultaneously with the breakout below the trendline and 20-MA. Bitcoin now in the next fractal already completed the first confirmation and once the cycle has finished the second confirmation is likely to approve. Upcoming Fractal-Determinations And What We Should Consider: Now as the next fractal Bitcoin is forming here is already within its final stages there is a high possibility given that the further fractal elements will form in the upcoming times, once the wave G is completed in the wave-count there remains the breakout below the second trendline and the 20-MA on high volatility and together with the increased-volume spike, when these things happen the fractal is technically completed and Bitcoin has increased likelihood to continue bearishly, the main target-zone and also support-zone, in this case, will be within the 35600 level marked in orange from where Bitcoin has potential to stabilize again. For now it is necessary to prepare on upcoming volatilities as there are also other technical factors and fundamentals that are playing into the initial bearish pullback-scenario, technically the main RSI and MACD bearish divergence and fundamentally the increased regulatory pressure that has the ability to decrease again however now is still omnipresent. 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 past, like the future, is indefinite and exists only as a spectrum of possibilities." Information provided is only educational and should not be used to take action in the market.
BYBIT:BTCUSD.P
by VincePrince
28
BITCOIN, Local Bull-Flag, Initial Continuation-Determinations!Hello, Welcome to this analysis about Bitcoin and its 45-minute local timeframe perspectives. As I discovered recently Bitcoin is forming an important constellation here with upcoming volatilities that should be considered in the schedule especially as Bitcoin completes this main formation in the structure. As when looking at my chart now we can watch there how Bitcoin established this main bull-flag-formation marked with the boundaries in blue. This bull-flag-formation is building the main wave B in the structure and is consisting itself of a wave-count reaching from A to C with these waves already completed. As Bitcoin now emerged with the breakout above the upper-boundary of the bull-flag this is marking the appropriate setup for further continuations to the upside and has activated the bull-flag-targt-zone, therefore it is likely that Bitcoin continues bullishly from here to reach the target-zone which is simultaneously a main remaining resistance, this is why it is more likely that when Bitcoin reaches this zone there comes a pullback as the resistance is still omnipresent, especially in this constellation it does not mean Bitcoin is completely bullish therefore it has to be elevated how Bitcoin remains after pulling back from the upper target and resistance zones, possible is a stabilization in the structure from where Bitcoin can build up further, however, a bearish continuation with increase bearish pressure to the downside should also not be kept from the desk, it will be an important development ahead. In this manner, thank you for watching my analysis about BITCOIN and the main local bull-flag-structure with the upcoming bullish developments 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
16
BITCOIN (BTCUSD) – Week 35 – Bullish takeover Morgan Stanley's investment funds have purchased approximately 6.5 million shares in Grayscale Bitcoin Trust (GBTC), a move that comes as other big financial institutions look for ways to provide their customers with exposure to the cryptocurrency market. Morgan Stanley invested in GBTC across more than a dozen funds, according to SEC records discovered by Decrypt. Its Growth Portfolio, which owns 2.3 million shares of the Bitcoin-focused fund, is now the largest shareholder. Square's Cash App is a popular method for consumers to purchase and sell Bitcoin, but CEO Jack Dorsey is a huge supporter of the leading cryptocurrency, and Square has big aspirations in the sector. Dorsey announced a new Bitcoin-focused subsidiary dubbed TBD last month, and now he revealed what it will be: a decentralized exchange. TBD intends to make a fully permissionless and decentralized exchange built around Bitcoin, however, to provide users a wide array of on-ramps for exchanging fiat currency for BTC. According to former Reserve Bank of India Governor Raghuram Rajan, cryptos definitely have a “potential future.” Speaking at the Reuters Global Markets Forum, the economist opined that while cryptocurrencies have highly fluctuating values, they might be useful as means of payment in the coming time. As expected, the former bank exec lent more support to the idea of well-regulated stablecoins, with Rajan adding that these assets should have quick, appropriate regulations. Technically, after the correction that started on the 24th of August and ended on the 26th we see a move to the upside as a higher probability scenario. If this consolidation breaks to the upside the price will continue to go higher. Keep in mind that a retracement to the blue trendline is possible before climbing back up. If the price breaks the blue trendline sharply and consolidates we may be retesting the support area before resuming 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
4
BTC, Diamond-Bottom Complete, Targets Reached, Next Destinies!Hello, Welcome to this update-analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives, the recent events, the established formational structure, and what has changed since the origin-analysis about this subject in relation to the main diamond-bottom-formation I mentioned in the origin-analysis that has greatly completed and was the origin of astonishing upside-volatilities. Not only the diamond-bottom-formation gave the indication for these developments but also other technical factors I explicated, this shows how technical analysis can function very good when applied rightly within the markets, pre-condition must be always to approach the market with an unattached eye to come up with the right determinations rather than just mere over speculation into a one-sighted direction which is seen to often these times, therefore I detected all the important levels and upcoming developments relevant for Bitcoins established structure. Diamond-Bottom Completion And Structural Developments: As when looking at my chart now we can watch there that Bitcoin extended the second half of the diamond-bottom-formation till it finally completed the wave-count within to after this show up with the decisive breakout above the upper-boundary of the formation marked in my chart with the blue circle, once this breakout emerged Bitcoin set up for further continuations to the upside and moved on to continue with the established bullishness. Although Bitcoin several times pulled back in the structure to test the 30-EMA in red Bitcoin consistently continued and finally reached the diamond-bottom-formation target-zone recently within the 50050 level from where an initial pullback has shown up that should not be kept by side here, mainly Bitcoin has still a strong resistance within this levels and it is more likely that when Bitcoin moves into it a next pullback will show up. Upcoming Determinations: Taking all these factors into consideration now it has to be marked that Bitcoin moved into an initial overbought condition on the local structure and approached the upper-resistance which are still serving as such, therefore an incoming pullback development has an increased likelihood for Bitcoin here. These pullbacks will move on and continue especially once Bitcoin pulled back below the 30-EMA, when this happens it will be the setup for further continuations to the downside and establishment of the main wave C within the major wave-count to approach firstly the diamond-bottom-top which is now great support where Bitcoin has the ability to bounce and stabilize above. Otherwise, when this does not happen the next considerable support is within the 38735 level where Bitcoin has the opportunity to rightly stabilize, it will be an interesting development ahead. In this manner, thank you for watching my analysis about BITCOIN and its completion of the diamond-bottom with the target-zones reached and the upcoming determinations, support the analysis with a like and follow or comment for more market insight! "Eternal patience is the marching route to tremendous prosperity." Information provided is only educational and should not be used to take action in the market.
BYBIT:BTCUSD.P
by VincePrince
11
BITCOIN, About To Complete Decisive Ascending-Wedge Bearishly!Hello, Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspectives. Bitcoins initial local trend to the upside in the recent times begins to slow down with decreasing momentum in the structure especially as Bitcoin also tested the main resistance levels in the structure these pullbacks should not be kept by side. Now as I discovered here Bitcoin is forming a decisive formation on the 4-hour timeframe perspective, this is a ascending-wedge-formation marked in my chart with the black boundaries, within this formation Bitcoin has the coherent wave-count reaching from A to E that is almost already completed and as Bitcoin moved into the heavy 50.000 USD resistance which is a psychological resistance and also besides that horizontal resistance I already mentioned before a main pullback established from this zone with Bitcoin moving on to test a third time the 100-EMA marked in my chart in blue, this EMA is a important reference-element holding the whole bullishness to the upside and when it is broken a bearish continuation gets an increased likelihood, this goes simultaneous with the ascending-wedge-formation completion which will happen when Bitcoin breaks out below the lower boundary as seen in my chart, such a price-action will activate the continuations to the downside and the initial target at 42400 marked in my chart in blue will be pointed, when this zone does not hold the next substantial support is at the 39000 level, these two levels are highly necessary to maintain properly and Bitcoin needs to bounce within there to back-up and stabilize with a appropriate bullishness, for now Bitcoin needs to show how it continues, in any case the bearish perspective should not be kept by side here. In this manner, thank you for watching my analysis about BITCOIN and the major ascending-wedge-formation with its upcoming determinations, 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
14