Hello Traders Investors And Community,
Welcome to this fundamentally important analysis about Bitcoin, we are looking at the 4-hour timeframe perspective. As Bitcoin has shown up with heavy gains to the upside in 2020 where it almost exaggerated and protracted with bullishness within the new all-time-high region despite the ongoing corona-pandemic it has now reached a high value where the volatility increased extremely which is good for us as traders as we also secured our profits within the channel consistently. Now Bitcoin is at a point where I discovered a decisive formation beside the head-and-shoulder-formation also forming that will lie the ground for the next destinations, therefore I detected all the important levels and likely outcomes we should consider here.
Structural Developments:
Besides the major head-and-shoulder-formation, I mentioned already previously Bitcoin is now about to form this huge triangle-formation marked in my chart, it has to be mentioned that the amplitude of the triangle upper-boundary to the lower-boundary largest point is just as large as 11.000 USD, imagining that this was the price Bitcoin had back in August last year at all and it shows what spheres Bitcoin reached now. As you can watch in my chart Bitcoin also developed this coherent wave-count within the triangle already completing waves A to C in the structure and now is already about to form the wave D on which the wave E will likely follow finalizing this whole wave-count and coming to the crucial decision-zone incoming.
Upcoming Perspectives:
Bitcoin now has reached a high value and is also in overbought condition and taking these technical factors into consideration the bearish breakout of the triangle has a higher likelihood of 65%, this does not mean the whole market is completely bearish however it can mean that Bitcoin will reach lower levels to form potential accumulations there, in this case, we should not underestimate the bearish perspective here and also be prepared when this triangle finally completes, however, it will be important to wait on the final confirmation before finally moving into this direction also because the same confirmation will complete the head-and-shoulder-formation simultaneously building, it will be an interesting development ahead.
In this manner, thank you for watching the analysis, have a good day and of course good trading, 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.
Welcome to this fundamentally important analysis about Bitcoin, we are looking at the 4-hour timeframe perspective. As Bitcoin has shown up with heavy gains to the upside in 2020 where it almost exaggerated and protracted with bullishness within the new all-time-high region despite the ongoing corona-pandemic it has now reached a high value where the volatility increased extremely which is good for us as traders as we also secured our profits within the channel consistently. Now Bitcoin is at a point where I discovered a decisive formation beside the head-and-shoulder-formation also forming that will lie the ground for the next destinations, therefore I detected all the important levels and likely outcomes we should consider here.
Structural Developments:
Besides the major head-and-shoulder-formation, I mentioned already previously Bitcoin is now about to form this huge triangle-formation marked in my chart, it has to be mentioned that the amplitude of the triangle upper-boundary to the lower-boundary largest point is just as large as 11.000 USD, imagining that this was the price Bitcoin had back in August last year at all and it shows what spheres Bitcoin reached now. As you can watch in my chart Bitcoin also developed this coherent wave-count within the triangle already completing waves A to C in the structure and now is already about to form the wave D on which the wave E will likely follow finalizing this whole wave-count and coming to the crucial decision-zone incoming.
Upcoming Perspectives:
Bitcoin now has reached a high value and is also in overbought condition and taking these technical factors into consideration the bearish breakout of the triangle has a higher likelihood of 65%, this does not mean the whole market is completely bearish however it can mean that Bitcoin will reach lower levels to form potential accumulations there, in this case, we should not underestimate the bearish perspective here and also be prepared when this triangle finally completes, however, it will be important to wait on the final confirmation before finally moving into this direction also because the same confirmation will complete the head-and-shoulder-formation simultaneously building, it will be an interesting development ahead.
In this manner, thank you for watching the analysis, have a good day and of course good trading, 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.
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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.