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Bitcoin-Post-Halving-Cycle-Price-AnalysisHello, Traders Investors And Community, welcome to this update-analysis about the post-halving situation facing bitcoin in the short-to-middle-term at the moment and what we can expect the next hours and days. The third bitcoin halving has now contributed successfully and how I pointed out in past analysis every time after the halving emerged we saw a smaller to bigger dip within bitcoins price-action, this dip hasn't come so far now after the third halving, this can indicate a possible dip scenario which is playing together with the rising wedge that I detected within the price-action. These two factors together with the strong resistance playing an important role and can affect bitcoins price-action substantially therefore we are looking at the daily timeframe. Rising-Wedge-Formation: The rising wedge you can see in my chart marked with the light-blue lines shouldn't be kept by side because it is a huge formation which in the most occasion confirms bearish to the downside, there are only a few cases where this bearish confirmation does not play out and the formation confirms bullish to the upside. Technically we will see a confirmation of this rising wedge when bitcoin confirms bearish at the strong resistance/support level you can see in my chart marked in blue between the 10230 and 10600 level, after a break of the lower boundary the formation is confirmed and possible to enter a trade on the short-side to aim for the target zone you can see marked in the chart. Strong Resistance/Support: The psychological resistance we have here at the 10.000 to 10.600 USD is such a significant resistance at the moment where bitcoin confirmed several times to the downside that it is really not a minor level and should be kept in mind as a leading origin of bearish pressure to the downside. As you can see we bounced at this range already several times to the downside now in the third attempt to break over this string resistance, what will change this dynamic is a clear close above the 10.600 USD level with good volatility, this will invalidate the resistance and confirm it as support but as for now it must be contemplated as resistance and currently playing coherently together with the rising-wedge-formation. Post Halving: As I mentioned in past analysis about the halving-cycles which can be the starting point of the third halving cycle now is that we had an initial dip within the first times of the post halving due to supply entering the market, therefore we have this current post-halving situation which is playing logically to the rising-wedge-formation and the strong resistance/support we have in this structure. In this case, we have a high probability to see an price-dip before contemplating a possible bullish confirmation in the long-run and longer timeframes, I already mentioned other parts of the mechanism in a past analysis which I recommend you to see when going on my account and look at the analysis. Taking all these three important leading technical factors into consideration we can assume that bitcoin has a potential dip insight when the rising wedge we have in the structure confirms properly and as it is a high possibility at the moment this scenario should definitely be kept in mind to be prepared when it happens. This breakout to the downside can be traded very well conservatively on the short-side after price has confirmed the lower boundary of the wedge. Remember that the breakout needs to fulfill with the right volatility to the downside and not mere low-volatility piercing the line. After this possible scenario has played out we need to elevate how bitcoin develops and if we get a reversal and continuation to the upside in the structure. In this manner, thank you everybody for watching, support for more market insight and all the best! Trading effectively is about assessing probabilities, not certainties. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
24
Bitcoin, Here Is Why The Bear-Market Could Be Over Already!Hello, Traders Investors And Community and welcome to this analysis about bitcoins current price-formation and what we can expect the next time. It is true that bitcoin is still struggling at a historical level which is the 10.000 USD psychological mark which was already the origin of high volatility within the past, in this case, it needs to be remembered and kept in mind if this actual resistance mark confirms as resistance as it has done in the recent year or if bitcoin manages to provide a paradigm shift which turns out bullish, in the price-chart I found some fundamental significant signs which are important to look at in the current market environment, I already done a more short-time approach which I recommend you to watch when going at my account, as for now to have a full-multi-overview we are also looking at the weekly timeframe. When looking at the current situation facing bitcoin we can notice that bitcoin is still trading within this huge and massive triangle which had its origins in the 2017 all-time-high, you can see the upper and lower boundary of this important triangle marked in my chart with the blue trend-lines. It is an underlying fact that these triangles the longer they are established showing a heavy and volatile breakout either to the up or downside. These breakouts can happen within smaller timeframes or also higher timeframes and it is within the high possible spectrum that we see such a breakout in this case also because the bitcoin price is consolidating in a wide range till months and years, the question now is either it confirms bullish or bearish and in this conclusion, it needs to be marked that there are some important signs which playing within the bullish scenario. As you notice when looking at my chart, before the bull-market in 2018 started bitcoin formed a bottom below the 200-EMA which turned out to be the actual accumulation before the bull market started, you can see this accumulation-phase and coherent bottom marked with the orange triangle in my chart, ater this we had a bull-bear transition phase which first tested the 100-EMA with high volatility and after that fully confirmed the bull market which had its top at the middle line of the huge uprising channel you can see marked in my chart. Actually we had the exact same fractal developed after the corona-breakdown with its low in March, as you can see in my chart bitcoin provided the similar accumulation triangle below the 200-EMA and after that the bull-bear transition and finally its confirmation above the 100-EMA. Now as this signal was so strong and provided the high which tested the middle line of the huge channel we can expect bitcoin to test the high established in the bull-market before a second time now this, however, needs to confirm with a clear close above the 10.000 USD level before that does not happen technically speaking the 10.000 USD level is still a massive resistance which can drag the price to the downside. Taking all these considerations together we can come to the conclusion that the bullish scenario is more possible at the moment than the bearish as I already mentioned in past analysis although there are still many bearish factors there is a higher probability for the bullish breakout which will increase when we move some higher in the current local resistance. In either case, it will be interesting how bitcoin turns out to go ahead further, many people these days calling for the complete bottom or moon, but this, however, is at the moment a mere speculative approach and we first have to wait for the proper confirmation before making this conclusion as it is highly important in these volatile market-environments we are facing today not only in the stock-market but also in the cryptocurrency-space to keep patient and wait on the right confirmational-scenarios before placing the trade as to rush in the markets as there is no tomorrow. It will be highly interesting to see how bitcoin develops the next time and if the bear-market is already over as mentioned and seen in 2018 with a similar fractal confirming now. In this manner, thank you for watching the analysis, support for more market insight, you can also subscribe to social media, all the best, and have a good week! The ambition to transform opportunity into gold remains the most significant tool for a trader. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
54
Bitcoin, Extreme Volatility, Smart Money Covering Positions!Hello, Traders Investors And Community, welcome to this analysis about the current events happened in bitcoin and what we can expect the next time in price-action. Yesterday bitcoin showed massive volatility with an exceptionally unnatural move to the downside, was it all normal market-movement or smart-money taking advantage of the situation like several times seen in the past? This fundamental and exaggerated bearish move to the downside shouldn't be ignored and the overall mechanism catapulted bitcoin into a critical condition where it can show further continuation when it can't manage to stabilize in the range, therefore we are looking at the 4-hour timeframe. As you can see in my chart bitcoin just fell below the important uprising-resistance-level from its past uptrend, this was an important trendline that holds the whole price to the upside in the local timeframe, as it is now broken it shows and important bearish signal to the downside. For now the price seems to stabilize but that can just be the next consolidation to setup for another leg down similar to the consolidation seen before, therefore you see the important support which needs to behold marked in orange for a significant sustain, when we break this level to the downside it will provide massive bearish pressure to the downside. The next time we can expect bitcoin to test remaining resistance levels in the current structure as we have support at the 100-EMA which you can see marked in blue, from here bitcoin sets up to test some higher levels but as there is still plenty of resistance it is more likely that we will fall back again in the range. In my chart you can see the resistance we have here at the 50 % Fibonacci Resistance and also with the logical resistance we formed in past price action, there this range is building a coherent resistance cluster which will confirm likely when the price has touched this range. I would be patient for opening an aggressive short here, the best option will be to wait after the bearish scenario has clearly confirmed. For further continuation to the upside, bitcoin needs to hold the current range and do not fall below the 9100 otherwise this will cause further increase of bearish pressure. What we need to keep in mind now is that the whole structure and the unnatural movement to the downside can be a big bear-trap trapping trader in there positions before moving higher upward, therefore we need to see more information and as soon as we do not get a serious price-stabilization and confirmation to the upside the bearish scenario remains within the high possible spectrum here. In this case traders should be prepared for this situation and take advantage of opportunities arising when it happens to confirm like mentioned. In this manner, thanks for watching, support for more market insight and all the best! Trading effectively is about assessing probabilities, not certainties. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
102
Bitcoin, Confirmed About Key Flag, The Condition Has Altered!Hello Traders Investors And Communtiy, welcome to this update-analysis about recent events happening within bitcoins current price-structure. As I mentioned in past analysis bitcoin was moving in an important possible bullish bull flag which could still fail but needed to confirm up for the proper verification, exactly this scenario played out right now and bitcoin firstly tested the remaining resistance which I pointed out we have in the structure, this shows just one more time that technical analysis is an empirical science which can work well in today's markets, where many people keeping ignorant and remain in the speculative sphere especially in the fundamental analysis spectrum like the academic economy sciences which disregard the importance of technical analysis we should look at markets not only with a constitutive curious perspective but also with the proper technical approach, therefore, we are looking at the daily timeframe. As you can examine in my chart bitcoin saw some exaggerated volatility the last time which just catapulted bitcoin above the bull-flag which I mentioned in the previous analysis, this bull-flag is now firstly confirmed to the upside with a healthy volatile move running into the remaining resistance and testing it. Because this level at 10500 is still an huger resistance which confirmed several times to the downside it is within the likelihood spectrum that we will get a pullback here but this will play into the bull-flag scenario to confirm the upper boundary of the bull-flag properly, which will give completely the next in completing the formation, when this happens and we get an up bounce from there we need to take out the still serious resistance at 10500 to activate the foremost-bull-flag-target you can see in my chart. At the moment this does not look like a fake breakout because the volatility held the price above the channel but for a full confirmation we need to confirm the upper boundary. Originated Idea According This Subject In Bitcoin (Daily Timeframe): Overall we have some good signs not only on the daily timeframe perspective but also on the 4-hour timeframe and the weekly timeframe which I mentioned recently, on the weekly timefram we took the falling resistance out which is a good sign at all. Now we are completing one more step to see the same signals which can lead bitcoin to a continuation also in the weekly timeframe which is very important. At all the current situation has a more bullish shape than bearish but there remains a little possiblity that the breakout we have seen is actually a fake breakout, this is when we see the bull-flag not confirming tightly a second time but fall back into the channel and see more bearish pressure signs, although it is not the most likely scenario for now this should kept in mind. Remember that the markets are full of possiblities and smart traders should carefully wage this possibilites out to make decisions which fitting best into the market situation to take the proper right action within the highest possible scenarios. This means to elevate oneself above hte mere speculative gambling approach and see the markets as a whole living organism with its twists and turns not only at the technical sides. In this manner, thanks for watching, support for more market insight, have a good day and all the best! Every great advance of scrutiny in study has issued from a new audacity of imagination. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
20
Bitcoin, Moving In Major Channel, Weekly Confirmation Incoming! Hello Traders Investors And Community, welcome to this update-analysis about bitcoins, recent events, the current price-action and what we can expect the next time from bitcoin. In my research, I discovered some important signs which are worth to look at and contemplate in the further calculation to profit from arising opportunities in bitcoins price-action. At the moment the whole cryptocurrency-space is full of contrary signals as some currencies making now highs and advancing steadily upward we are still in an indecisive zone within the major namely bitcoin but there are some fulfilling perspectives which can lead to some worthwhile trade-options on the weekly timeframe, therefore we are looking at the weekly chart. Alright, when looking at the bigger weekly perspective you can see in my chart that bitcoin is trading in a huge upward-rising parallel channel which is marked in grey, at the moment bitcoin is trading above the middle line of the channel which is building a support level together with the 50-EMA here, there is also this significantly important falling resistance line which bitcoin still not taken out and confirmed to the upside, these three levels building an overall triangular-cluster here which you can see marked in my chart. The importance now is that after such formations there will be a heavy break either to the up or downside confirming the triangular-cluster with a significant breakout. Bullish Confirmational Scenario: Bearish Confirmational Scenario: At the moment as we have still support within this range it is more likely for bitcoin to confirm this support and break to the upside but this, however, has to be confirmed properly like often in the markets otherwise when we cant hold the important 50-EMA and middle-line of the parallel channel we will see an increasing possibility for bearish pressure to the downside when confirmed below. Therefore to fulfill the more likely bullish scenario we need to break clearly above the falling resistance-line with good volatility, this will show an initial start of the further bullish continuation and targeting of higher levels, the second confirmation of the bullish scenario will be when we confirm above the 10500 level which is still a fundamental resistance here. Overall what is important to keep in mind is that bitcoin is trading at an important psychological level where it is hard to maintain a continuation to the upside because it failed several times at this resistance therefore the bearish scenario shouldn't be ignored, what is fact is that we will see an heavy break out the next time which needs to be confirmed before playing trade in the proper direction as for now I wouldn't open a trade immediately before no confirmation has been shown either on the small timeframe or higher timeframe, when placing a trade now it will be a mere speculative approach and this is most often a fatal mistake many people falling in the global markets today, the wisest approach is to wait on confirmation in this current situation facing bitcoin before taking advantage of the situation. Thanks for wachting, support for more market insight, all the best! Information provided is for educational purposes only and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
58
Bitcoin, Moving As Forecasted, The Triangle Gets Narrower!Hello, Traders Investors And Community, welcome to this update-analysis about bitcoins current situation. As I already pointed out in recent analysis about the locally price-picture of bitcoin is that it is trading in an overall triangle with the outstanding third touch of the higher boundary and third touch of the lower boundary awaiting, this scenario has confirmed now properly as forecasted in the analysis, I recommend that you watch it to have a full-depth-overview about the current situation, what is new now is that there added some more signs which will determine bitcoins further outcome especially when taking it into comparison to the rest of the cryptocurrency-market like ethereum or cardano which showing some good bullish signs and already made higher highs, therefore we are looking at the locally 4-hour timeframe. Triangular Formations Forecast (4-Hour Timeframe): As we can see now bitcoin confirmed the second touch of the lower boundary and the third touch of the higher boundary as expected, therefore we are approaching the still important resistance in the structure at the 9550 upper boundary level this can indicate a pull-back lower to confirm the lower boundary of the triangle a third time. At the moment this does not necessarily happen as it is also possible that we will move above the triangle and confirm it but the pull-back scenario increases as we are facing important resistance in the structure. When this pull-back confirms properly we can expect bitcoin to find support at the strong confluence cluster at the lower boundary and the 200-EMA which you see marked in my chart in orange, when this happens we will get stabilization in price here. Overall we can anticipate that the triangle gets narrower and narrower now and that we will see a breakout sooner or later, considering all the new factors which added into the whole picture now a bullish breakout is more likely as we have some good support sings and other major cryptocurrencies like ethereum already broke to the upside, that does not necessarily mean that bitcoin will follow but it is an indication for a follow-up in price-action. Remember that this has to be confirmed with a clear break of the higher boundary including good volatility otherwise when we confirm below the lower boundary it will show in bearish price-action, when this plays out the 8130 level needs to be held when considering the bullish continuation further. The triangle can be traded after confirmation when crossing the boundary with the necessary volatile action, an aggressive approach will be directly after this confirmation happened, the more conservative approach will be after the boundary confirmed when we saw the breakout, this will be the more precise and wiser process after such a mechanism. This breakout can be traded in either direction after the proper scenario confirmed rightly it will show a good opportunity with an exceptional risk-reward. There are many people calling for the complete moon but this is merely speculative at the moment, we need to stick to the logical observation, therefore we can be prepared when markets move in the most possible direction like in this case with bitcoin. In this manner, thank you, everybody, for watching, support for more market insight, and a good weekend! Even though destiny seems obscure in the present, it is actually beginning right now. Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
22
Bitcoin, Expected Price-Recognition, Next Level Going To Proof!Hello Traders Investors And Community, welcome to this update-analysis about bitcoin price-action and what we can expect further, currently the price bounced at the main lower range support exactly as predicted in my previous analysis, it shows one more time that technical analysis is a science that can work well when applied right. In the prior two analyses about bitcoins price-action in the locally 4-hour time-frame, I exactly forecasted the price-action we have seen now, as I mentioned we need to take out the resistance at 8800 before it is in the possible spectrum that we can go and test the falling red trend-line. Furthermore, there was the pull-back from the trend-line awaited which happened now, and as awaited we bounced from the lower range support now. If you did not see this analysis, I highly recommend that you watch them to have a full-depth-overview. Forecast Break Of Resistance And Test Of Falling: Pulling Back Awaited: At the moment we are still trading below the important falling red trend-line which I already mentioned and is significant in the current structure. The price is building a small consolidation here between the falling red trend-line and the 50-EMA you can see in orange at my chart, this overall smaller consolidation can be mentioned as a triangle which will break to the up or downside, the overall fact that bitcoin is still in an up-trend here makes it clearer that the possibility is higher that we will break to the upside because we have good a good support-level at the 50-EMA and the lower range support you can see in my chart overall this has to be confirmed with a clear break of the falling red trend-line when this does happen we can await the price to test the higher resistance level at 9950 as you can see it in my chart. When we look at the structure as it is we can examine that bitcoin is building a smaller consolidational range within the bigger consolidational range here. In fact, these ranges are known that they will either break to the up or downside, at the moment I see a higher possibility for a break to the upside because the price is sticking in the range here but it can also turn to the downside because the 10.000 USD is such a significantly important level for bitcoin that it is possible that we will see a third pull-back to the downside similarly as we saw it in the past months at the 10.000 USD, therefore, it is important that we hold the overall range here to form a possible break to the upside with targets ahead. Remember that this scenario has to be confirmed as always the possibility for the proper direction increases with the confirmation. I know many people have a too high speculative approach in the markets and want to trade setups or predict the market of information which is basically not given at the proper moment, this is the biggest mistake a wise trader can do because it cant be the bottom line to trade what one thinks not what is confirmed based on the price action. Therefore we should always adapt to what the market gives us and the changing circumstances that mean to trade the highest possible scenarios and not trade a setup which will 100% fullfill for sure because that is factly impossible, all market situations are based on possibilities with higher or lower grade and we must increase to the higher grade to make the survival in markets possible in this case we need to adapt and be prepared for possible counter-scenarios and take appropriate action when they happen. In this manner thanks for watching, support for more insights, and good rest of the weekend everybody! The past, like the future, is indefinite and exists only as a spectrum of possibilities. Information provided is for educational purposes only and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
29
Bitcoin, Approaching 10000 Again, Outcome Will Determine Target!Hello, Traders Investors And Community, welcome to this analysis about bitcoins actual price-structure, there are some important and meaningful mechanisms currently in play which will determine bitcoin further outcome the next hours and days, we are looking on the daily time-frame and there are some significant observations I made in the current bitcoin structure. The last time we saw bitcoin approaching the fundamental resistance level at 10.000 and falling back to form a bearish pull-back, this level has such an importance in the structure because we bounced several times to the downside there and now approaching it a third time. At the moment bitcoin is coming back to test the major 10.000 USD resistance again but as the past shown to us, this level can cause a heavy bearish breakdown to the downside. When looking at my chart you can see that bitcoin is trading in this huge huge uptrend channel which formed from the low in 2018 and the high in 2019, this is the actual predominant channel we are trading in and it had an unnormal corona-virus breakdown to the downside which you can see marked in my chart due to the corona-virus fears infecting all major global markets together and showing especially in bitcoin volatility never seen before. Last week the bitcoin price recovered from this unnatural and highly volatile breakdown back into the channel where we are trading now and approaching this huge resistance. As we saw the last days the price already confirmed bearish to the downside at the resistance and is now approaching it again. What we can examine now is that bitcoin is building a possible range here, which will break either to the up or downside. When we are looking at the past breakdowns in the psychological 10.000 USD level we can see that as consolidation-range formed before the second key breakdown. Therefore we need to keep in mind that this can also happen in the range we are building now when bitcoin does not succeed to travel above the 10.000 and especially the 10.500 level. When considering the bearish scenario a definite break of the 8100 levels to the downside will cause more bearish pressure at least to the 7400 and this case the fact that we will trade again in the bearish corona-channel will increase the probability for a continuation to lower levels. In determining the bullish scenario it is important that we need to take out the overall 10500 levels sustainable to the upside with good volatility and volume otherwise it can still be a bull-trap catapulting bitcoin back in the range. The overall neutrality level which you see in my chart will be in play after this scenario and bitcoin has definitely more room to move higher in the structure when it confirmed. This can cause a new potential bull-market which will be in play and building a coherent set up with the overall structure but this needs to be confirmed with a clean break to the upside, the full confirmation will be in play when we exceed 2019 high you can see in the structure, I see many people calling for the moon but this is an illogical approach because we did not see a supportable confirmation and before that happens we cant call bitcoin for the moon. At the moment we need to see if bulls are strong enough to take the 10500 levels out or fall back again. Both scenarios can be traded properly and as I always say it is preeminent to wait for the proper confirmation in the markets to place the best possible trade. In this case the confirmation will be realized on the bullish side when crossing above the 10500 levels, this can be traded with an aggressive entry after the breakout or a conservative entry wait on confirming the level with a pull-back and the needed volatility. The bearish breakdown can be traded with an immediate entry or an entry after confirmation, in this scenario, it is also possible to wait for more downside and potentially add to the position because we will see definitely more downside when the 8100 level is broken. Thanks for watching, support for more market insight and all the best! Knowledge is the most important commodity in today's markets. In this manner: FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
19
Bitcoin, Move As Expected, Testing The Higher Levels! Hello, Traders Investors And Community and welcome to this update-analysis about the current events happening in BTCUSD, we are looking at the locally 4-hour time-frame and at the moment BTCUSD is testing the falling red trend-line as expected and mentioned in the recent analysis if you did not already saw this analysis I highly recommend you to watch it to have a full-depth-insight, I pointed out there that when BTCUSD manages to take out the resistance at 8780 to 8850 there is a high probability that BTCUSD will test remaining higher resistance-zones and exactly this scenario happened now. Now, when looking at my chart you can see that bitcoin is just at the current moment testing the falling red trend-line with a lowe momentum spike, that can indicate that BTCUSD will fall back to the support which you see in my chart marked with the orange box before moving higher above the falling red trend-line. Remember that this orange support has to be confirmed properly when we see low volatility here and no concrete reversal signs the support can be invalidated and the price can turn down after several weak bounces. The other possibility is that the BTCUSD price is that much strong that we increase in price here and establish to move above the falling red trend-line this will be a highly bullish move which can bring the price to the 10260 to 10440 level which you can see marked in my chart with the blue box, from there we will definitely have a high resistance cluster where a pull-back is in the possible spectrum. But at the moment I see the first scenario more possible because the price begins to weaken at resistance currently. Overall we can contemplate that BTCUSD is building an range in the level here and that it will be highly interesting where this range is going to breakout. When we establish solid support here it is possible for bitcoin to move above the range and confirm in the bullish zone but this has to be confirmed rightfully without the proper confirmation BTCUSD will still hang in a sideway-market where the breakout in either the bullish or bearish direction has to play out and confirm further so we can take advantage of it and trade the highest possible scenario. Thanks for watching, support for more market insight and all the best! Trading effectively is about assessing probabilities, not certainties. In this manner: FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
17
This Is What We Need To Know About Bitcoins Current Structure! Hello, Traders Investors And Community, and welcome to this analysis about bitcoin current structure and what we can expect from the next hours and days. There are some important signs which I figured out and made clear to me that bitcoin will decide the next time where it is going with the overall price structure. We are looking at the locally 4-hour time-frame if you want to have a bigger view on the picture I recommend that you go to my account and look at the middle-to-long-term analysis published about bitcoin. When looking at my chart you can see that bitcoin is currently trading at the black resistance level I marked for you it shows also up in the volume profile as the important resistance level in the overall structure, at the moment we are testing it and a possible scenario is that when we break it to the upside we have a higher likelihood given that bitcoin will test higher levels in the structure, at least move to the 9600 levels to test the falling red trend-line. On the other side, we have the bearish scenario which will be fulfilled when we cross the rising blue trend-line you can see in my chart to the downside because there is a high probability given that we get more selling pressure when we cross it down we can assume bitcoin to visit the POINT OF CONTROL level you see in my chart marked in orange, this will be the target for the overall scenario to the downside, remember that we need to confirm it properly with a definite break of the blue up-trend-line and close below it. What is a good sign and important to acknowledge about the structure is that both scenarios can be traded properly, the bullish, as well as the bearish scenario but each scenario has to be confirmed rightly before looking for a good trade entry. In the bullish case, this will be when we break the current resistance and confirm it as solid support and with the bearish scenario when we break the rising blue trend-line to the downside as already mentioned. Many people calling for the complete bearish breakdown now, it is possible of course but this breakdown has to be confirmed appropriately as mentioned and before that we can't say 100% for sure that the bearish breakdown scenario will play out definitely, at the moment bitcoin is still consolidating on the short-term and therefore will decide where it is going to the next time, when the confirmation has come we can examine the next steps and way for bitcoin to enter. Thanks for watching, support for more market insight, and a good weekend, everybody! ;) Astonishment is the basis of reverence. In this manner: FAREWELL Information provided is for educational purposes only and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
10
How to Trade Triangles.________________________________________________________________________________________________________________________________________ Hello, Traders Investors And Community, here I show the important triangle-formations and how to trade them properly. These formations come in every-shape from big to small in today's markets and are sometimes quite often spotted. There are however some important and significant differences in trading them which I explain further. ________________________________________________________________________________________________________________________________________ 1.) Bullish Ascending Triangle 2.) Bearish Ascending Triangle 3.) Bearish Symmetrical Triangle 4.) Bullish Symmetrical Triangle ________________________________________________________________________________________________________________________________________ ________________________________________________________________________________________________________________________________________ 1.) Bullish Ascending Triangle This formation is a typical known textbook bullish uptrend-formation. Normally it develops within a bullish trend and is a continuation-formation. Suggesting that the bulls make a break before going higher upward. It is formed by the typical horizontal higher boundary with steady-highs and the rising lower boundary with higher-highs. It is a logical mechanism that this formation breaks to the upside because the bulls are clearly stronger. The price projection range is taken by the first touch with the higher boundary and the ground of the lower boundary to project the minimum target in the breakout-zone where the triangle broke out to the upside. The triangle can be traded with immediate entry and stop-loss below the last low or conservative with the breakout to the upside. 2.) Bearish Ascending Triangle This formation is the logical and coherent counterpart of the ascending broadening wedge, the main difference here is that it breaks to the upside and is normally seen as a continuation to the downside. Here we see steady lows with a horizontal lower boundary and lower highs with a declining upper boundary. The formation breaks to the downside because the bulls getting weaker every new lower high is formed. When projecting the price to the downside we can take the measure from the first touch with the lower boundary and the equivalent point with the higher boundary to project our minimum. target. The triangle can be traded aggressively with entry before the breakdown or with confirmation after the breakdown. 3.) Bearish Symmetrical Triangle Here we have an interesting formation that must conform to the downside to give us the proper signal that it is actually really a bearish symmetrical triangle. Here we get lower highs with a descending upper boundary and higher lows with an ascending upper boundary. This formation has also an end-date, it is the date in which the lower and upper boundary come together which means that the formation has definitely ended at this date. We can measure our target from the touch with the lower boundary and its equivalent point at the upper boundary. The wisest way tot trade the triangle is after the breakout and confirmation. 4.) Bullish Symmetrical Triangle This formation is the bullish counterpart to the bearish symmetrical triangle and the difference here is that we get the first price touch with the upper boundary indicating a bullish outcome. We see lower highs with a descending upper boundary and higher lows with an ascending lower boundary before breaking to the upside. The breakout can be heavy which depends on the time symmetrical triangle has confirmed, the longer we stay in the triangle the stronger the breakout will be. We will get a minimum target when projecting the first touch of the higher boundary and its equivalent point of the lower boundary to the point where the triangle broke to the upside. The best way to trade the triangle is after breakout and confirmation of the boundary. ________________________________________________________________________________________________________________________________________ If you like this tutorial feel free to support. I also made an tutorial about broadening wedges which you find when scrolling down on my account. Will be great to see you there. Have a good day and all the best. Thank you. ________________________________________________________________________________________________________________________________________ “An investment in knowledge pays the best dividend” ________________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSDEducation
by VincePrince
6
Important Situation Determining Bitcoins Further Price-Action! Hello friends, hopefully, everybody of you is doing good in today's volatile market environment and welcome to this analysis about bitcoins actual price-situation we have seen some exciting things going on the last time, as many people were bullish on bitcoins actual price-movement and further continuation there are some significant signs which make it harder to underline the bullish scenario at all, that does not mean the bullish scenario is fully out of the sight but that does mean that we need to march above resistance and confirm it properly otherwise the heavy bearish scenario will play out. Alright, when looking at my chart we can elevate that bitcoin is currently trading in a neutral zone divided by the two grey falling trend-lines you can see in the chart, we have seen some bearish decline the last hours and days in which bitcoin firstly confirmed the support and after falling below confirmed it as resistance, you can see the important support/resistance level in orange at my chart, currently, we have it as resistance. Furthermore, we have seen heavy volume when falling below the support that is indicating that this is not a weak bullish down-turn and can be a signal for further bearish continuation, therefore, the bearish scenario to the downside can't be ignored. In my chart, you can watch also the black trend-lines which are equivalent to the point of control in this structure which is signaling the price-level with the highest volume, therefore, it can transform into an important support/resistance level playing and highly meaningful role in the structure. I made also already other analysis of this subject, just go to my account and look at the given ideas when you are interested in it. When we fall below the black point of control this is a sign for a possible continuation to the downside pushing down from orders executed. Otherwise, we can confirm it and the range around it as support and form a slow but steady uptrend. At the moment we have to wait and see which scenario confirms properly either it is the bullish scenario with a break and confirmation of the falling grey trend-line or it is the bearish scenario with a break of the black point of control level and continuation into the bearish zone of the current range. In both cases, we can expect a high possibility for the continuation in the confirmed direction although we have support-resistance levels in the range. Currently, I see a slightly higher possibility for a continuation upward because the falling trend-lines looking like an original textbook wedge but that scenario has to be confirmed otherwise we are still neutral and the price can turn bearish. Great friends, this should give you the proper overview of bitcoins current situation, remember we are always trading what we see not what we think this is mere speculation and we have to distance ourselves from the illogical approach in the markets. Thanks for watching, feel free to support and don't forget as I always use to say: Success is a science; if you have the conditions, you get the result. In this manner: FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
19
Breakout Of The Downtrend-Channel Suggesting Further IncreaseHello Traders Investors And Community, I hope everybody of you is doing well in this volatile market-environment we are facing these days, as I suggested in my analysis about bitcoin we have been trading in an important downtrend-channel which will determine the further outcome of bitcoins price action and that has confirmed right now, as I also pointed out we have a point of control where the volume is the biggest, this point of control serves as an important support/resistance level and now we confirmed it as support, the bullish scenario I mentioned confirmed, but that does not mean we are fully out of the woods with bitcoin at the moment as I showed in my middle-to-long-term-analysis about bitcoins further price action, on the middle-term we still have strong resistance levels, if you didn't saw these ideas I recommend that you go to my account and check these out to have a full-depth overview about the current multi-timeframe picture. It is always wise to look at different structures in the market to have a picture of the highest possible scenarios developing forward in the markets! Now we can see that bitcoin made a bullish breakout of the falling downtrend-channel this is suggesting that the downtrend developed before is now over and a new bullish trend established on the short-time-frame, for now, it is only the shorter time-frame, this is very important to keep in mind because bitcoin has still significant resistance-levels above the head which will also be respected as these when touched. The next time we can expect a second confirmation of the downtrend-channel, therefore it is highly possible that we visit the point of control again where we have the highest volume otherwise we have the next support at 6910 to 6930 as you can see it in the chart, together with the falling downtrend-channel this level will build a bullish confluence-zone when touched, so keep an eye on that. After that second confirmation, I am expecting the next leg to the top of the structure, the next important resistance-zone is the zone between 7360 and 7470 which will highly likely confirm as the proper resistance when we visit this area, on the daily chart there is also the 650-EMA which serves at an important resistance-line. After that pull-back in this range played out it is very very important for bitcoin to hold the range between 7130 and 7370 otherwise we can move lower when these levels do not confirm as steady support levels after the pull-back, after visiting this area it is possible for bitcoin to move higher but as we have high resistance in this area it is important that we get the right confirmation, therefore we have to look on further signs in this area. Great now it should give you a good overview of the current situation with bitcoin on the short-term, remember that we are not out of the woods at all in the middle and long-term as I already show in a recent analysis. I see many people calling for the moon, this cant be the right approach and is more speculation then elevated market-observation because we are still in an overall weak up-trend and as we approaching heavy resistance-lines the trend can always fall back to bearish therefore we have to look at the chart with a clear head and elevate ourselves above the mere speculations. Today's markets are literally highly complex and there are many things which have to be considered therefore we cant say this scenario or that scenario happens 100 % for sure, there are always possibilities in the markets playing together and creating the overall big picture in which we can follow the given opportunities when they arise. In this manner have a good day and rest of the weekend ;) Feel free to support for more market insight. Success comes from elevated concentration on the projected goals FAREWELL Information provided is only educational and should not be used to take action in the markets
BITSTAMP:BTCUSD
by VincePrince
17
Price Reached Equalization, Determining Next Outcome!Hello, Traders Investors And Community, welcome to this update-analysis about the current bitcoin price-action on the locally time-frame, as I already pointed out in past analysis the bitcoin price has the chance to move higher in its weak up-trend but there are some conditions it has to prove successful before deciding to climb some higher when you did not see these mentionings already I recommend that you go to my account and check these out. Now we are looking at the 4-hour-timeframe and there are some important signs which playing in the way bitcoin will decide to go in the next days. Currently, we are trading in a downtrend-channel which can easily continue to the downside so let's have a look at the situation! As you can see in my chart bitcoin currently reached an equalization-range which means that the price is in consolidation on the local structure, which is confirming this is the downtrend-channel and the sideways-movement we have seen the last days. As you can see in my chart I marked the point of control of the current range with the grey trend-lines and the black text, this is the point on which we have the highest volume that means that point can work as a support or resistance, currently we have it as support but that can change! When we confirm under the point of control bearish as you can see it in my chart bitcoin will have an easy way to fall more to lower levels, the next respectable support in this scenario will be the range between 6000 and 6100 as you can see it in my chart. However this, for now, is not the most likely scenario I am considerating, as we are still trading above the POINT OF CONTROL bitcoin has the possibility to move higher and break-out of the downtrend-channel, when we break it to the upside and also close above the 20-EMA this will be a good bullish signal on the short-term. Bitcoin then will have the room to visit the 7370 to 7470 are and test the overall upper resistance in the range, that will be a hard test because there we have many bearish confluence-factors playing into a bearish reversal as I already pointed out in the recent analysis. For now, the good news is that we can trade both outcomes after confirmation! My friends, always wait on the proper confirmation and don't rush into trades of weak consideration, at the moment we can't say definitely for sure in which direction we will continue, we can place a trade in the direction we wish but that wouldn't result in a good trade with a high possibility. Therefore in this structure, it is best to wait in which direction we brake and then place the trade in the confirmed direction. Alright my friends, thanks for watching, may all luck and happiness come to you and of course good trading profits. ;) Don't forget as I always use to say: Success is a science; if you have the conditions, you get the result. In this manner: FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
13
Bitcoin 28 Day Old Trend-Line Broken These Zones Are Important!Hello, Traders Investors And Community, Today I made an important observation in terms of the locally time-frame 4-hour bitcoin-chart, we just broke out of a highly respected 28 days old trend-line. This trend-line served bitcoin all the way from 3900 to 7450 and now it is broken to the downside! When looking at my chart we can see that bitcoin bounced several times at this trend-line, in fact, this was 5 times before on the trend-line before bitcoin broke finally to the downside the sixth time. You can see these bounces marked in purple and the breakdown to the downside marked in red, now the problem is that bitcoin can still fall more which wouldn't be good at all for further performance. For now, we see the first local support zone between 6600 and 6750, in this zone, it is possible that we see a bullish-bitcoin-bounce but this is in fact not 100 % sure at the moment, also we can see the bounce coming and then quickly falling back to the level where it was before. When we fall below 6600 that is critical for bitcoin because below there is a huge free-fall zone where many sellers and bitcoin bears will sell. When this scenario happens we can expect the first next support between 5900 and 6000 this will be a major zone that should be confirmed as support, from that level we can see a bounce to the upside. Okay what is also important is the major black trend-line currently above bitcoins price you can see it in my chart, this is a huge resistance right now and if bitcoin bounces at the mentioned support level we can expect the resistance firstly at the black trend-line, therefore I would be cautious with opening along to trade the reversal firstly it will be wise to wait for a confirmation which confirms a possible reversal. So this should be a good outlook of the current situation, have a good day and good trading profits, my friends! Thanks for watching my analysis, feel free to support my friends and don't forget as I always say: The ambition to transform opportunities into gold remains the most significant tool for a trader. In this manner FAREWELL Information provided is for educational purposes only and should not be used to take action in the markets
BITSTAMP:BTCUSD
by VincePrince
36
The Abnormality Within Bitcoins Current CycleHello, My Friends, I hope everybody of you is doing well in today's market-environment and welcome to this analysis about bitcoins current cycle movement. There are some important signs and worthwhile indications I made which also play a big role within the current corona crisis and therefore the logical consequences the crisis is playing for the cryptocurrency-space. First of all it has to be mentioned that most countries in this world currently note a decline in their economic growth because of the hard corona-measures, therefore, we can see a recession declining price-action in the stock-markets and the normal economic-markets like car-industry or luxury-industry but this fact does not necessarily mean the cryptocurrency is in a bear market or a bull market, I already pointed out in recent analysis that we are still consolidating in the middle-term and that the next weeks and months will show us where the journey is bringing us. People who say that this or that scenario happen 1000% for sure can't be right, we have to look on the possibilities taking place in the markets and elevate ourselves above mere speculation, therefore, it is important to watch the chart as detached as possible and don't set a final-result as the only possible solution defined, volatile markets can show massive turns in the indicators used from day to another. I recommend that you read the whole analysis to have a full-depth perspective of the current situation. In the crisis right now there are anticyclical investments like gold, pharmaceutics, food, and armor-industry! These fields are not influenced by the hard corona-measures, therefore, it is possible and not to be dismissed by hand that bitcoin plays into the anticyclical investments we have in this economic decline. I don't want to say right now that it is 100% the fact but what we can say is that bitcoin is not affected like the stock market and is not cyclical with the stock-market we saw this in recent bitcoin-bear-markets where bitcoin declined and the stock market increased. What is the importance now also when looking at my chart-picture is that we have a 4-years cycle in bitcoin similar to a normal economic cycle. Bitcoins cycle consists of three phases once it is the expansion, the second is growth and the third is a contraction, the normal economic cycle in the real economic consists of 4 phases. Because bitcoin is not like the normal economy we have a different cycle-movement similar to gold. The abnormality within the current cycle is defined by the hard corona-breakdown seen in the last weeks before we had this slow slow stabilization, it also affected other markets as stocks as well. The volatility was seen in this breakdown to the downside was not normal and we have never seen such a fast and heavy decline in bitcoin, also the situation right now that people do not leave their houses and have to stay inside, etc has been never seen since before, it is a completely new environment with other difficult problems we never saw in the crisis before. Bitcoin 4-Year Economic Cycle When we watch the chart closely now we see that bitcoin completed a full cycle in 4.04 years (can be rounded up to four years) that are 1477 days, in this phase bitcoin reached a new All-Time-High and peaked you can see the cycles marked in my chart, also the cycle is building a coherent structure with the underlying sine-curve. The problem in the current cycle is that we should do a new peak within the next cycle-ending time this will be in 2021. Also, we have a definite end where the bear-market is confirmed and a heavy contraction-phase to the downside sets in this is when we cross the lower black-support-line which you can see in my cyclical-picture. We need to see things now as they are and do not get too attached to wild irrational ideas that leading nowhere, therefore it is necessary to see bitcoin detached from the stock-market as an independent financial-instrument. When we establish to hold above the black-line we can see a possible second growth-phase within the 4-year cycle, in this case, we have to stabilize a minimum above 9000 and look at other mid-to-long-term indicators indicating the price-action of next weeks and months. Also my friends, we have seen the heavy decline because of the corona-fears coming in and affecting all markets but these first fears are over what comes now is the recession in many countries which are the consequences of the corona. This causes stocks to decline further because the economy is decreasing but that does not necessarily affect cryptocurrency, it can also be used as a hedge like pharmaceutics or armory which are seen as hedges in the classical stock-market of today's crisis. So my friends thank you for watching my analysis, I hope everybody of you could get some important insight and where the journey will bring us the next time, feel free to support, thanks for everybody who is supporting, my friends. As I always say it is the motivation to transform opportunities into gold remains the most significant tool for a trader. this is why we should take the market seriously and make the best of every situation. ;) FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
29
The Truth About Bitcoins Current SituationHello My Dear Traders Investors And Community, welcome to this middle-to-long-term-analysis about the BTCUSDs price movement. As we are still in uncertain terrain right now it is important to look at BITCOIN with a rational head, as it should always be the motto to trade what we see not what we think, many people call for the complete moon shot or the fall to zero the next months this is why I take a calm eye on the current situation facing BTCUSD to point out where we have to go with the bitcoin-adventure to succeed in the markets, the big question in the corona-crisis now for the cryptocurrency market is if bitcoin and other cryptocurrencies is an anticyclical investment like food-companies, armor or pharmaceutics. This is the big question now because BITCOIN is still trading between the lines with different bearish and bullish signals coming in as on the other side the economy of many countries of the world is in a confirmed recession and stocks in a confirmed bear market. Please read the whole analysis to have a full-depth perspective! Thank you. Halving-Cycles: First of all the third and next halving day will be the 2nd May 2020 this year, it is only one month to go and bitcoin is still stuck in consolidation, today this is the first difference to the last two halving cycles which you see in my chart, there was a clear accumulation before the halving cycles before BITCOIN exploded bullishly to the first halving-cycle target at 1162 and the second halving-cycle target at 19666, now as we have only one month to go and we aren't in a confirmed accumulation right now this is a bad sign that the next halving cycle may not confirm like the last two ones. But this date and the time after this date shouldn't be ignored because as the empirical approach to the last halving-dates shows is that it confirmed every time and BITCOIN made amazing 90.52 times more in price in the first halving cycle and in the second amazing 28.74 times more. Looking at this fact from a mathematical point of view the next confirmed halving-cycle would shoot bitcoin to the moon! But this is only half of the The 20- And 50- EMA: Now when we look at bitcoins past we saw two confirmed bear-markets at all, these two were confirmed with the 20-EMA and the 50-EMA, as you can see these changes in the trend in my chart, these where confirmed bear-markets. The situation now is whether in a bear nor a bull-market it is still consolidating. But what is important right now, as you can watch it in my chart, is that we are shortly before a bearish confirmation of the 20-EMA crossing the 50-EMA down, as we are trading below the EMAs this could be a possible bearish signal to the downside when we cant develop to trade above the EMAs again, as you can see this signal signaled the confirmed bear-markets in the past, there are also other bearish indications which signal a bearish continuation like the Thunder-CLoud-Suite which closed recently bearish on the weekly chart if the EMAs confirm it will add one more confirmed bearish indicator to the list! The Big Triangle And Where It Will Be Confirmed: In anticipation of bitcoins further price-movement we have to keep the big symmetrical triangle in the head, which is still developing and will show a break in either direction. You can see it developing in the middle of the red falling support line and the major rising black trend-line of the whole bitcoin-big-picture. There is a definite end-date where this triangle will end, it will be after the halving date, the triangle will definitely be confirmed at the 14th December this year. This is an important date because it is highly probable that the recession and bear-market decline will still progress at this time, so the outcome can be bearish when BTCUSD confirms to be procyclical going along with the stocks, indices and real estate market. Otherwise when we see bitcoin stabilizing above the 20 and 50 EMA, the thunder cloud suite and other factors at the local time-frame there is the possible breakout to the upside which has to be confirmed definitely with the full break-up of the huge falling red resistance line! So my friends thank you for watching my analysis, I hope everybody of you could get some important insight and where the journey will bring us the next time, feel free to support, thanks for everybody who is supporting, my friends. As I always say it is the motivation to transform opportunities into gold remains the most significant tool for a trader. this is why we should take the market seriously and make the best of every situation. ;) FAREWELL Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
31
BTCs Thrid Attempt, Will It Fail Again At Resistance Or Succeed?_______________________________________________________________________________________________________________________________________________________________________ Hello My Dear Traders Investors and Community, today this is an important chart because we are facing a difficult situation in BTCUSD. The BTCUSD mid-to-long-term-chart is full of contrary signals at the moment, as I already mentioned in past analysis, on a mid-to-long-term-perspective we are still in an overall consolidation phase because BTCUSD is trading in a big triangle if you didn't saw these analyses I recommend that you check these out when going on my account and look on the past BTCUSDs charts! Okay, let's look at the chart. As you can see when zooming in, BTCUSD bounced at the support just as I forecasted, you can see the support marked with the orange box, the support is between 5770 and 5900 now what is important is that we have still plenty of resistance above us, there is the smaller falling red resistance line on the short-term-perspective and the huge falling resistance line on the mid-to-long-term-perspective (Which also builds the upper-line of the triangle we are trading in). As we are approaching the third time the red-falling-trend-line now I am expecting a pull-back in this region, consolidation is also possible, just similarly as seen with the second attempt to break the resistance. Remember that this is a really strong resistance which brought BTCUSD almost - 58.7 % down, together with the 135-EMA there is a strong resistance-confluence-zone which should be ignored. Now the good news is that when we break these important and strong resistance levels it is a good bullish signal which can be considered for a bullish continuation to the upside. When it breaks it has to confirm fully and the 135-EMA and resistance line should be clearly broken with minimum more than 10 % to the upside, otherwise, it could be still a failure, that sometimes happens when the breakout confirms slowly but not for 100 % and the trend snaps back again in the other direction, it can also be described as a bull-trap. In this manner, there could be still a possibility for a bull continuation although BTCUSD printed only bearish signs in the last-time not to mention the heavy bearish decline which brought BTCUSD from 9200 to 3900, but when the resistance confirms we have still the 38.2% retracement above us and the strong falling red-resistance line which have to be taken out for a full bullish scenario on the mid-to-long-term-perspective. _______________________________________________________________________________________________________________________________________________________________________ The amount of good luck coming your way depends on your willingness to act. Feel free to support for more valuable insight, thanks for your support, my friends! ;) FAREWELL Information is only educational and should not used to be for taking action in the markets. _______________________________________________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSD
by VincePrince
13
These Are The Obstacles BTCUSD Is Currently Facing._______________________________________________________________________________________________________________________________________________________________________ Hello, Traders Investors And Community, Today I discuss some important observations I made the last time looking at the BTCUSD-chart, what I already mentioned in recent middle-to-long term analysis of BTCUSD watching the Daily-to-Weekly price-chart of BTC is that we are still in an overall consolidation period as I already pointed out the importance of the three-major trend-lines we have in this picture now, once it is the huge resistance above our heads which you see in the chart marked with the red straight trend-line and the red dotted trend-line, there is also the black rising trend-line which holds the structure and the blue falling trend-line which formed from the lower-lows in the past months, as I already said this overall formation is still neutral so, I highly recommend to you that you watch my analysis where I determined the shape of our situation to have an overall picture of what is going on now: Now, what you can see in my chart, is, that we got rejected two times in a major confluence zone which plays an important role in determining bitcoins further movement. The first time we got rejected in this confluence-zone BTCUSD provided a 57 % drop-down to the low at 3850 from which we saw this slowly establishing up-trend to the recent point and the recent second rejection at this confluence-zone. What does the second rejection mean? It is possible that BTCUSD falls more because this is such a strong important level, the good news is that we have support below us which BTCUSD will first recognize at the 5800 - 6000 range. When this level cant be held and bitcoins drop more down the next support-range is between 5800 and 5000. These levels building a logical triangle with the falling and dotted red resistance line and the falling blue trend-line as you can see in this chart, if we approach these levels before moving up I am expecting a healthy development of support in this range. Furthermore, if we establish the support in this arena we can expect some up-moves there, but, to have a decent bull-continuation we first have to break the falling red-line to the upside, which isn't impossible for sure but it is still a strong resistance level. On the other side, we have the 45-EMA which plays into the confluence-zone, it will also be a highly respected resistance level which first has to be taken out to initiate a further up-trend! So what we do have now at hand? On the one side, it is a -bullish scenario showing decent moves after the confirmation of support, but with more than one obstacle in the way and still resistance above us, to provide a confirmed up-trend BCTUSD has first the task to take the major strong falling red trendline out. On the other side it is the -bearish scenario which kicks in when we cross the rising black trend-line down, this scenario is possible but when it forms it will take some time and it will be recognized as the scenario because BTCUSD won't be to hold the support between 5000 and 5800. The bullish scenario is definitely possible and I know many of you want the bullish scenario to be confirmed as it is also the healthiest way in the markets and everybody is happy but we have to see the confirmation first as I explained, we are still in a financial crisis, and as the coronafears and the economy all over is recovering a little bit, step by step, that does not mean we are in a solid confirmed bullish environment, this includes bitcoin as well as the major indices, stocks, and gold. _______________________________________________________________________________________________________________________________________________________________________ In this manner: The Pessimist Sees Difficulty In Every Opportunity. The Optimist Sees Opportunity In Every Difficulty. Thanks, For Watching! Have a good day! Information provided is only educational and should not used to be for market purposes. _______________________________________________________________________________________________________________________________________________________________________
BITSTAMP:BTCUSD
by VincePrince
10