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BTCUSDAs I have been telling you since November 14th... ven if I was harshly criticized and many laughed at my technical analysis ... here that BTC also reached my target no. 3 and now it is very close to continue the road to 36900 or even 30000 ... BTC has reached my no.4 target and is very close to closing the number 5 target! however ... I will wait to see how January closes and if it closes below the Fibonacci 786 level per month ... then the BTC decline is far from over ...BTC hit the Fibonacci 786 as predicted from where it hit hard! now I'm going to wait for a close for at least 1 week over 44,300 (Fibonacci 618) before I think about BUY again! For now, I think it's just a corrective move and BTC will hit my number 5 target ... which it was very close to. THIS WEEK... as we analyzed last week, BTC reached 44300 from where it rejected strongly! if the week closes below this area, I will look for SELL to my target number 5 from where I will reanalyze NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
BITSTAMP:BTCUSD
by BloomFX_SIGNALS
2
BITCOIN Inverse Head & Shoulders target $56k based on the passBitcoin has bottomed out, completing the correction that started after the November 10 2021 All Time High (ATH) as it recently broke above not only its 1D MA50 but also the natural barrier of the Lower Highs trend-line as I showed on this analysis 10 days ago: The 1D MA50 is holding as a Support and this is forming an Inverse Head and Shoulders (IH&S) pattern, which is a formation seen on market bottoms. In BTC's recent history on the 1D time-frame, when similar patterns broke out to the upside, they targeted the 2.0 Fibonacci extension. In particular, this chart shows three prior formations (not all exactly core IH&S but we can use the analogy) that after the Resistance broke, hit the 2.0 Fib extension. This level is currently at $55900. Notice also how on all four patterns, the break-out leg displayed the same aggressive 1D RSI sequence (Channel). We can go even further back and see a November 2020 formation that also reached its 2.0 Fib on an aggressive leg: So what do you think? Do you agree with this pattern that Bitcoin's next medium-term target is its 2.0 Fib at $55.9k? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSDLong
by TradingShot
16
BITCOIN What if we're just in the 2nd historic cycle?This is an idea I've been meaning to do for some time as I was going through some comparisons of Fibonacci levels within Bitcoin's long-term Cycles. The one rough constant I found within Cycles historically that may change the scene as we know it is the number 2.6. Until now, this appears to be the number of times that the phases since August 2015 are longer than their respective before that date. I will go into more detail what I mean by that. * The 1st rally phase from July 2010 to the June 2011 High can be compared with the 1st rally phase of August 2015 to the December 2017 High. The latter phase is roughly 2.6 times longer than the former * The Pull-back phase of June 2011 to October 2011 is comparable to the Pull-back phase of December 2017 to December 2018. The latter phase is roughly 2.6 times longer than the former As a result we can assume that these two form the start of two separate MEGA CYCLES, instead of the traditional notion that BTC is already on its 4th Cycle. If we keep the same constant of the Cycle 2 separate phases being 2.6 times longer than their respective phases of Cycle 2 then we can assume that: * Bitcoin is currently on the 2nd Rally Phase of Cycle 2 which will be 2.6 times longer than the one of Cycle 1, thus lasting until June 2024! How how can it go? Well based on Cycle 1, whose peak was within the 1.382 and 1.5 Fibonacci extensions, that can be anywhere within $125k - $220k! * The Bear market of Cycle 1 is from December 2013 to August 2015, which is longer that the pull-back phase, thus 'feeling' more natural to be called 'Bear market'. Similarly the Bear Market of Cycle 2 should be 2.6 times longer and extend up to December 2028! I know this is the first time it is argued that Bitcoin might be in just its 2nd historic Cycle but in my opinion it does offer a fresh perspective and certainly food for thought. Do you agree with such a theory? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
INDEX:BTCUSD
by TradingShot
33
BITCOIN, HEAD-SHOULDER, Set-Up For BEARISH CONCLUSIONS!Hello, Welcome to this crucial analysis about Bitcoin on the 4-hour timeframe perspectives and the current situation. Currently, there are people in the cryptocurrency space that became already completely bullish and are calling for the next all time high to emerge by next week which is actually a highly speculative approach at the moment. In this endeavor, we should not keep from the desk that Bitcoin since November of last year showed up with heavy bearish conclusions and continuations and that it is yet not confirmed if Bitcoin is in a validated uptrend again or further declines are likely to follow from a technical as well as a fundamental perspective as Bitcoin becomes many top-down regulatory pressures from authorities to ban and restrict Bitcoin. This is why it is highly pivotal to look at the actual facts and form an individual opinion about what is going on, therefore it is a relevant approach to look at the technicals which I am doing in this analysis, looking at the current formational structures and what to expect in the next times. In this case now, when looking at my chart we can watch there how Bitcoin recently finalized and completed this major decisive head shoulder formation with the breakout below the neckline and the breakout below the 40-EMA, these two levels are now strong resistances for Bitcoin. With the breakout below the levels, Bitcoin now confirmed the high likelihood continuation and activated the lower target zone as seen in my chart between the $38,600 and $39,200 level. Now below the neckline and below the EMA Bitcoin is forming this confirmational formation as marked in my chart and with a breakout below the lower boundary, this formation will be completed with Bitcoin setting up to the further conclusions. Once the target zones have been reached it will be highly crucial if Bitcoin manages to reverse in this structure and form a substantial stabilization or a setup for a Wave-C-Continuation follows as it is seen in my chart. These are the two scenarios we need to watch out for when Bitcoin appoints the target-zone, in any case, for now, we should not underestimate the bearish scenario that Bitcoin currently points out to and be prepared for these upcoming volatilities. In this manner, thank you for watching the analysis, all the best! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
BYBIT:BTCUSD.P
by VincePrince
80
BITCOIN This unique cyclical RSI pattern shows $100k by summerThis is Bitcoin on the 4D time-frame. I have used this chart frame as it accurately displays a unique RSI formation which since August 2017 can help at identifying some distinct recurring cycles outside of the traditional historic ones on its parabolic growth curve. As you see, the measurement from a unique RSI Higher Highs pattern which forms on BTC's last High before a price peak, is approximately within 570 and 590 days. If the same sequence is repeated then the next pre-peak High should come in mid-August 2022. Assuming a modest (for BTC's standards) rise is followed, then the price could reach the $100k psychological benchmark by then. On a (much) more optimistic scenario, if BTC follows the late 2020 rally pattern, we can see Fib 1.0 from the Fibonacci Channel break. In that case, even a extension on the 1.5 Fibonacci extension level is technically possible, though much less likely within the current Halving Cycle. So what do you think about this unique 4D RSI pattern? Is $100k within reach based on this model? Feel free to share your work and let me know in the comments section below! -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
BITSTAMP:BTCUSD
by TradingShot
52
BITCOIN, Potential Major INVERSE HEAD-SHOULDER-FORMATION!Hello, Welcome to this analysis about Bitcoin on the daily timeframe perspectives. In recent times Bitcoin showed up with strong initial bounces in the structure to penetrate important remaining resistances at the $44,000 that have been seen before the last devastating pullbacks emerged. From a fundamental perspective, there is actually an increased advanced development forward in the technological as well as financial adoption curve of Bitcoin such as recent establishments show. The NASDAQ exchange is going to list the Valkyrie Bitcoin ETF and other important projects moving on such as the KPMG in Canada actually adding Bitcoin to its balance sheet. In this market situation, it is also important to look at the technical factors and as I detected there are important ones going on here. As when looking at my chart we can watch there how Bitcoin is now developing this massive inverse head and shoulder formation with the left shoulder and the head already formed. Now as Bitcoin is testing the remaining 65-EMA in blue there is a high likelihood given that Bitcoin pulls back from this point on, in this case, it will be highly crucial on how Bitcoin actually approaches the important support level seen in my chart between the $40,000 and $41,000 level, when a bounce in this area shows up this will complete the whole inverse head and shoulder formation as seen in my chart and Bitcoin will activate upper target zones. Once the formation has been completed the $54,000 to $54,800 zone will be a likely target zone, it will be an interesting development ahead. In this manner, thank you for watching the analysis, all the best! "Good fortune is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
41
POLKADOT, Major Descending-Triangle, How It Completes!Hello, Welcome to this analysis about Polkadot on the 12-hour timeframe perspectives. In recent times the Cryptocurrency market showed up with some interesting developments, for now there are still mixed signals in the market therefore it is important to look at the different setups the Cryptocurrencies are forming. When looking at my chart we can watch there how Polkadot emerged with this massive descending triangle formation in which it has a coherent wave count with the waves A to C almost already completed. Now with the development of wave D Polkadot is forming this bear flag formation which has a high possibility to complete in the near future which will show up with the origin of the wave E to finalize the whole wave count. Once this wave E emerged it will be decisive on how Polkadot approaches the major lower support level marked in my chart, if Polkadot bounces off this level appropriately this has a good ability to complete the whole descending triangle with a breakout above the upper boundary as shown in my chart, once completed activation of the initial target zone will happen and once this target has been reached with Polkadot having the appropriate momentum to continue the next target zone will be appointed as seen in my chart. For now, it will be necessary to await the confirmation before moving to further conclusions, it will be an interesting development ahead. In this manner, thank you for watching the analysis, all the best! "Trading effectively is about assessing possibilities, not certainties." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
8
BITCOIN, Massive Double-Top-Cycle, Road To $100,000!Hello, Welcome to this analysis about Bitcoin on the 4-day timeframe perspectives. As I already mentioned in a recent YouTube video of mine Bitcoin is in a important mining difficulty cycle and historically speaking the bottom should come in after some more time, you can watch this video on my YouTube channel as it will describe the situation in more detail. There is a high likelihood given that Bitcoin shows up with the bottom after the completion of this main formational structure I am explicating here. In this case I am looking at all the important levels, structural formations and determinations we need to consider on the long term especially with a scenario in which Bitcoin has the abilities to reach out the $100,000 levle. Therefore, as when looking at my chart now we can watch there how Bitcoin is forming this massive double top formation within which it already completed the first top and now within the second top has developed this head shoulder formation which is likely to be the origin for further continuations to the downside and when this happens with Bitcoin moving below the neckline of the double top this will be the origin for further continuations in which Bitcoin will finally reach out to the $14,500 level as it is marked in my chart, once this level has been reached Bitcoin will be highly oversold and from there on will give good abilities to form a major reversal from where bullish continuations emerge. With this being said when this whole formation completes and Bitcoin reaches out to the $14,500 level there will be a massive bounce in this level and if Bitcoin continues with it Bitcoin will actually form this huge bull flag formation which when completed will catapult Bitcoin way above the $100,000 level. In this manner now it will be highly crucial on how Bitcoin moves on here and how this whole double top actually completes lying grounds for a more profound bullish cycle setup, it will be an important development ahead. In this manner, thank you for watching the analysis, all the best! "There are many roads to prosperity, but one must be taken." Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
117
BTC NEAR FUTURE PREDICIONS (4H CHART)Technical Analysis Summary BTC/USDT TREND ANALYSIS We have 1 Downtrend in red color (Long Term Downtrend currently testing to break ) We have 1 Long Term Uptrend in green color Be careful trends need to be modified when broken to the new peaks(Downtrend) and lows (Uptrend). FUTURE PREDICTIONS We have many resistance and support levels that I have mentioned above. I use thickness as an indicator of strength of levels (ONLY FOR VISUALS). The Yellow SUPPORT and RESISTANCE Levels are levels already tested and are not an entry level I added it only for explanation purposes to show my strategy. Good luck everyone, stay safe! If you need help ​don't hesitate to send me a message or comment If you find this content beneficial please don't forget to LIKE and FOLLOW Trading Involves High Risk Not Financial Advice Exercise Proper Risk Management
BINANCE:BTCUSD.P
by husseindergham
BITCOIN, Massive BROADENING-WEDGE, How It Completes!Hello, Welcome to this analysis about BITCOIN and the 4-hour timeframe perspectives. Bitcoin in recent times so far managed to hold above the $36,000 level and managed to build up above this range. Also, the Bitcoin Dominance actually reached a 2-months high which is an important indication that Bitcoin actually gains in strength against the Altcoins. Besides that, the institutional interest increases further, and institutions such as MicroStrategy buy into the dips. There is given evidence that Bitcoin so far has abilities to hold in the structure and potentially build up further on it nevertheless the technicals need to move simultaneously with this indication, therefore, I detected all the important levels, structural formations, and upcoming determinations to consider. Structural Developments: As when looking at my chart we can watch there how BITCOIN has formed this massive broadening-wedge-bottoming-formation in which it actually showed up with a wave-count reaching from A to E, this wave-count has been already completed with the finalization of the wave E within the lower boundary from where Bitcoin moved on to bounce and form this local triangle-formation that is marked in my chart in blue, in this triangle formation Bitcoin also has a coherent wave-count that already completed. Now with Bitcoin bouncing within the 25-EMA marked in green, there is a good structure on which Bitcoin can build on and finally form the breakout above the upper boundary of the ascending triangle formation which will be the initial confirmation of a final validation and completion of the broadening wedge. Upcoming Determinations: Taking all these factors into consideration Bitcoin is in a structure that forms the final breakouts and emerges above the upper boundary of the descending wedge as it is marked in my chart, such a breakout will activate the further continuations and Bitcoin is going to approach the $46,000 level as marked in my chart in the blue horizontal zone. Once Bitcoin reached out there this does not mean Bitcoin is completely bullish because when this dynamic emerges it will be important on what for a formation develops from there on, if Bitcoin pulls back heavily from the structure and firstly visits lower levels this will not be a good indication however when Bitcoin manages to stay in this area and form something like a continuation formation this will lead to possible further highs in the structure, it will be an interesting development ahead. In this manner, thank you for watching the analysis, all the best! "Great fortune is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
19
CARDANO, Develops Massive BROADENING-WEDGE-BOTTOM-FORMATION!Hello, Welcome to this analysis about Cardano and the daily timeframe perspectives. The cryptocurrency market is changing day in and day out and besides that the divergence between the several different Cryptocurrencies also increases. This is why there are Cryptocurrencies that show up with more bullish structures, while others are neutral and others again show more bearish outlooks. In this case, it is necessary to differentiate the diverging setups and pick the ones with the most potential to take advantage of. In this case, I detected a major formation forming with Cardano with the worthwhile structure and this is why I detected all the important levels, structural formations, and upcoming determinations we need to consider. Structural Developments: As when looking at my chart now we can watch there how Cardano is building this massive broadening wedge bottoming formation. In this massive broadening wedge bottoming formation Cardano has formed the coherent wave count which consists of five waves from A to E and recently with the ending of the wave E Cardano has finalized this whole wave count and is now approaching the lower boundary of the massive broadening wedge bottoming formation in which a major structural support cluster is lying consisting of the lower boundary of the wedge formation and the descending support line. In this case, Cardano has good abilities to bounce within this zone as it is seen in my chart. Upcoming Determinations: Taking all these factors into the consideration there is a high potential given that Cardano manages to bounce in this structure and once this happened it will be highly decisive on how Cardano approaches the upper levels further because when Cardano manages to finally bounce above the upper boundary of the broadening wedge bottoming formation this will be the setup for an appropriate continuation and activation of the target zone which is marked in my chart in orange. Once Cardano has reached out to this zone it will be highly decisive on how Cardano moves on from there on and if there forms a setup from where Cardano can continue or main pullbacks firstly take place, it will be an interesting development ahead. In this manner, thank you for watching the analysis, all the best! "There are many roads to prosperity, but one must be taken." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
8
BITCOIN, Fourth HISTORICAL Weekly 200-EMA Bounce CAN EMERGE!Hello, Welcome to this analysis about BITCOIN on the weekly timeframe perspective. In recent times Bitcoin showed up with a heavy bearish decline to the downside as the FED announced it wants to decrease its currently 9 Trillion US-Dollar big balance sheet and also increase the interest rates by 2022, these are bearish indications that should not be underestimated and so also was the reaction of Bitcoin as bearishness increased. Now with this dynamic, we need to consider what are possible scenarios and what to consider on the more middle to long term perspectives. In this case, now I detected a major formational structure together with the underlying potentials that should be taken into account when this historical signal confirms a fourth time. Structural Developments: As when looking at my chart now we can watch there how Bitcoin moved on to form this serious double top formation in the structure with both tops already completed and the bearish declines showing up after the second top formed. With this being said when Bitcoin now moves on to break down below the dynamic neckline that is marked in dashed grey in my chart this will lead to an initial continuation and Bitcoin will approach lower levels in the structure. The main target zones can be elevated within the 200-EMA zone as it is marked in my chart, this zone is also matching with the lower boundary of the major potential bull flag formation Bitcoin is forming in this whole structure. Upcoming Determinations: Taking all these factors into the consideration it will be highly important how Bitcoin moves on here and actually approaches the 200-EMA again. As it is seen in my chart this 200-EMA bullish signal already flashed three times in history and always was followed up by major gains. Therefore, when this signal flashes the next time again there is a high possibility given that Bitcoin will have the ability to complete this whole bull flag formation with a breakout above the upper boundary. Such a determination will provide the setup for major further continuations, for now, it will be highly decisive on how Bitcoin approaches the remaining supports and how the 200-EMA signal can emerge again. In this manner, thank you for watching the analysis, all the best! "Good fortune is when opportunity meets preparation." Information provided is only educational and should not be used to take action in the markets.
BITSTAMP:BTCUSD
by VincePrince
41
BTC/USDT 4HOUR UPDATEWelcome to this quick BTC /USDT analysis. I have tried my best to bring the best possible outcome in this chart. Hello friends as you know btc is currently moving in a falling wedge pattern from where nothing can be said without weekly confirmation or monthly confirmation trading has to be done thinking today is to book maximum or less loss or profit than work Holding now no thanks This is not a piece of financial advice. Sorry for my English it is not my native language. Do hit the like button if you like it and share your charts in the comments section. thank you.
by CryptoSanders9563
TERRA LUNA, Massive Head-Shoulder-Formation, Objections!Hello, Welcome to this analysis about Terra Luna and the 4-hour timeframe perspectives. Since the cryptocurrency market recently formed a massive pullback to the downside we need to adjust to the situation and derive the best out of it as such situations can also show up unforeseen opportunities. In this case it is highly important to consider the differences between the certain cryptocurrencies as they are all forming very differential setups, there are crypto coins that have a more bearish interface, there are coins that are more neutral and there are coins that have more bullish interfaces. With Terra Luna as I discovered and as it is seen in my chart the whole interface has a bearish edge as Terra Luna recently completed this whole massive decisive head-shoulder-formation marked in my chart in red with the breakdown below the lower boundary. Below the neckline Terra Luna increased with heavy volatility and now bounced back to form this confirmational flag formation that is marked in my chart in red with the black boundaries, this formation is confirming the whole breakdown and head-shoulder-formation. Within this formation Terra Luna also has a coherent wave-count with the waves A and B already completed and now as Terra Luna sets up for the final wave C this wave C will directly lead into this main resistance cluster where several resistances come together. Once Terra Luna tested this resistance there is a high likelihood that a pullback from there on emerges which will finalize the whole confirmation formation with a breakdown below. The whole targets of the head shoulder formation are as it is marked in my chart within the 40 Usd and once these have been reached the situation needs to be elevated again, for now we should not keep the bearish perspectives out of sight. In this manner, thank you for watching the analysis, all the best! "The high destiny of the market is to explicate rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
8
BITCOIN, With Completion Of THIS Formation 18K Is INEVITABLE!Hello Cryptocurrency Community, Welcome to this analysis about Bitcoin from the 4-day timeframe perspective. In recent times Bitcoin has shown up with heavy volatilities and increased spreads that should not be underestimated. At the same time, the regulatory voices against Bitcoin have become much more hostile and governments considering to ban Bitcoin or restricting it has become normal. Besides that, the overall economic situation is also shaky and in any case not what it was back before the corona pandemic hit financial markets. An increased inflation rate currently has the effect that more capital is flowing into the markets however if inflation should accelerate more this can have the reversed effect. Besides that, the FED decision upon a balance sheet decrease, stopping of the buyout programs, and possible increase of interest rates can hit markets bearishly as well. In this case, it is inevitable to take a look at the technical factors and this is what I am doing in this analysis, therefore, I detected all the important levels and determinations to consider. Structural Developments: Looking at my chart now we can watch there how Bitcoin is developing a massive crucial decisive formation that should not in any case kept from the desk here. As it is seen in my chart Bitcoin has begun to form this paramount ascending wedge formation, such an ascending has a higher tendency to form a devastating bearish reversal of the previously established bullish trend, this possibility is currently omnipresent together with the economical and restriction dynamics. In this whole formation, Bitcoin has already completed the waves A to D with the ending of wave D currently penetrating the lower boundary of the wedge formation from where a bounce has a higher potential now. This bounce will move on with the wave E and once this wave has emerged the final determinations will come when Bitcoin approaches the upper boundary of the ascending wedge formation again because BTC in this upper boundary has the main resistance cluster from where a pullback is likely which will accelerate bearish dynamics together with the decreasing volatility circle and the supply levels in this area. Upcoming Determinations: Taking all these factors into the consideration now what will be important here is to watch firstly on how the whole economical situation evolves because when the FED announces to finally decrease the balance sheet and begins with it this will affect the supply dynamics of Bitcoin and in the consequence also the whole pattern has a higher possibility to finalize. The second thing to watch is how Bitcoin moves in this formation because if heavy bearishness is leading to Bitcoin severely pulling back in the formation especially after approaching some little higher this will also increase the likelihood of Bitcoin completing the whole formation. Therefore for now it will be necessary to keep patient and watch out how the situation moves forward, the best thing in such cases is to possibly take opportunities on a short or middle term basis with swing trades or similar rather than just overspeculating the whole market into a one-sighted direction and rushing into the market in and out. In this manner it will be crucial to keep up to date and see how the market dynamics swift to be prepared on the scenarios mentioned, it will be an interesting development ahead. In this manner, thank you for watching the analysis, all the best! "The high destiny of the market is to explicate rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
22
BTCUSD As I have been telling you since November 14th... ven if I was harshly criticized and many laughed at my technical analysis ... here that BTC also reached my target no. 3 and now it is very close to continue the road to 36900 or even 30000 THIS WEEK...BTC has reached my no.4 target and is very close to closing the number 5 target! however ... I will wait to see how January closes and if it closes below the Fibonacci 786 level per month ... then the BTC decline is far from over NOTE: Please, give a LIKE if you find this idea useful! GREAT ATTENTION: *This information is not a Financial Advice.
BITSTAMP:BTCUSD
by BloomFX_SIGNALS
2
BITCOIN; Dump BUT This Formation Will Be The DECISIVE-FACTOR!Hello Cryptocurrency Community, Welcome to this analysis about Bitcoin and the daily timeframe perspectives. In recent times Bitcoin showed up with a serious dump in the structure after it did not manage to hold the 39.500 USD level. Nevertheless, in this whole development, important news came through in the market that are indicating that the technological and fundamental development of Bitcoin is actually increasing not decreasing. Miners accumulation reached new highs, Coinbase launched a partnership with MasterCard and Walmart plans development of an in-house own Cryptocurrency as well as an NFT-division. All these factors are contributing to the fact that the sentiment for Bitcoin is actually positively bullish. Nevertheless, the technicals are also highly pivotal in this case, this is why I detected a major formation forming with Bitcoin together with the central levels that will be highly important within the upcoming times. Structural Developments: Taking all these factors into the consideration here Bitcoin and looking at my chart we can watch there how Bitcoin has developed this primary descending triangle formation. In this descending triangle formation BTCUSD has the wave count with the waves A to E almost completed. Now with the ending and finalization of the wave E which simultaneously formed out of the dump Bitcoin is testing the main lower boundary of the triangle which is matching with the initial structure-support marked in green. When Bitcoin manages to bounce in this area and finally breakout above the upper boundary of the descending triangle formation as it is seen in my chart this will complete the whole formation and from there on Bitcoin will have the ability to continue further. Nevertheless, it will be highly crucial on how Bitcoin continues from there and how Bitcoin tests the remaining resistance at the 45.500 USD level because when Bitcoin heavily pulls back from this point on this will lead to a devastating reversal down the line. Upcoming Determinations: Therefore it will be highly decisive on how Bitcoin actually potentially stays within this structure above the 38.000 USD level because if this does not happen and Bitcoin breaks down below this level the whole reversal formation will be invalidated and Bitcoin is likely to continue bearishly into the bearish continuation zone marked in my chart in red. However, when Bitcoin manages to stay in the structure and form a substantial stabilization within this can lead to a great reversal with Bitcoin actually managing to breakout above the remaining resistance, such a development will lead to the wave C extension above the resistance as it is marked in my chart. For now, it will be highly necessary to await these confirmations before rushing into the market and overspeculating the market into a one-sighted direction. As it is always the case in such situations, it is important to await the proper confirmations and keep calm before moving to further conclusions, fundamentally speaking Bitcoin has still potentials however this on the middle and long term basis needs to be validated also from a technical perspective, it will be an interesting journey ahead. In this manner, thank you for watching the analysis, all the best! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the markets.
by VincePrince
25