Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. In the last months and weeks, Bitcoin is highly volatile and formed several higher highs as well as higher lows with volatile moves to the up as well as to the downside which served as great moves for us in the channel to secure profits in the long as well as on the short-side. In such situations, it is important to determine what are possible realistic perspectives and what is not so likely. In this case, now I discovered an interesting formational structure Bitcoin is forming lying ground for the upcoming destinies. It is important to realize that the movements Bitcoin formed in recent times can continue as Bitcoin is still in this distribution-accumulation-dynamic.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin has formed this main ascending-channel-formation marked with the boundaries in blue. Within this channel, Bitcoin has also this major coherent wave-count with the waves A to D almost already finished and now setting up to form wave E in the schedule that will finalize the wave-count. As Bitcoin managed to bounce above this important local descending-trend-line it is the proper set-up for the continuation and protraction of wave E in the wave-count as shown in my chart. When Bitcoin manages to break out of the orange box in my chart this will be the origin for the further developments up into the distributional-range anew where the crucial decision will come up.
Upcoming Determinations:
Bitcoin is still in this main accumulational-distributional-channel-dynamic, as the recent accumulation was the origin of the current move above resistance this will lead into the distributional-range again, this is important because a next distribution, in this case, is more likely than Bitcoin right away moving through this zone, it can be a similar pattern as already shown in recent times. Therefore it will be highly necessary to elevate how Bitcoin reacts in these structures and especially as Bitcoin remains in this dynamics for now it is significantly meaningful to not underestimate the bearish scenarios and change of dynamics as it is not seldom seen in cryptocurrency.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, 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 market.
Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. In the last months and weeks, Bitcoin is highly volatile and formed several higher highs as well as higher lows with volatile moves to the up as well as to the downside which served as great moves for us in the channel to secure profits in the long as well as on the short-side. In such situations, it is important to determine what are possible realistic perspectives and what is not so likely. In this case, now I discovered an interesting formational structure Bitcoin is forming lying ground for the upcoming destinies. It is important to realize that the movements Bitcoin formed in recent times can continue as Bitcoin is still in this distribution-accumulation-dynamic.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin has formed this main ascending-channel-formation marked with the boundaries in blue. Within this channel, Bitcoin has also this major coherent wave-count with the waves A to D almost already finished and now setting up to form wave E in the schedule that will finalize the wave-count. As Bitcoin managed to bounce above this important local descending-trend-line it is the proper set-up for the continuation and protraction of wave E in the wave-count as shown in my chart. When Bitcoin manages to break out of the orange box in my chart this will be the origin for the further developments up into the distributional-range anew where the crucial decision will come up.
Upcoming Determinations:
Bitcoin is still in this main accumulational-distributional-channel-dynamic, as the recent accumulation was the origin of the current move above resistance this will lead into the distributional-range again, this is important because a next distribution, in this case, is more likely than Bitcoin right away moving through this zone, it can be a similar pattern as already shown in recent times. Therefore it will be highly necessary to elevate how Bitcoin reacts in these structures and especially as Bitcoin remains in this dynamics for now it is significantly meaningful to not underestimate the bearish scenarios and change of dynamics as it is not seldom seen in cryptocurrency.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, 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 market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.