Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 30-minute timeframe perspective, recent events, the established formational structure, and what we can expect in the upcoming times. As Bitcoin recovered from its heavy bearish declines to the downside it moved on to test remaining resistance-levels that are not yet taken out already and therefore should not be kept by side, especially in this case I discovered a decisive formation Bitcoin completed recently that will be the determining source within the next times, therefore I detected all the important levels and likely destinies we should consider with Bitcoins established structure and the upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin recently completed this main broadening-wedge-formation indicating an initial reversal to the downside and as Bitcoin now formed the breakout below the lower-boundary this completed the wedge-formation and Bitcoin is likely to continue after it moved back and a pullback from the breakout-zone anew. Bitcoin then will continue till there is support found in which it can reverse the dynamic anew and stabilize to form bullish continuations, this type of support is given within the blue support-zone marked in my chart, it is also the zone possible to be the origin of the major wave C to the upside when Bitcoin holds it properly otherwise a continuation and protraction of wave B will follow.
Upcoming Determinations:
Taking all these factors into consideration now it will be of high importance how Bitcoin reacts in the given zones and how it manages the possible stabilization in this zone, when it does not happen and Bitcoin increases with bearishness further this will lead to the protraction of wave B and into the second ascending-trend-line marked in blue where a new attempt of the wave C origin can happen, this is also a significant reference-point to hold because when this does not happen Bitcoin will increase with bearish pressure when moving into the bearish-continuation-zone. These are scenarios to elevate next times and initially, it will be important how Bitcoin approaches the supports, it will be an interesting development ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, 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 market.
Welcome to this analysis about Bitcoin, we are looking at the 30-minute timeframe perspective, recent events, the established formational structure, and what we can expect in the upcoming times. As Bitcoin recovered from its heavy bearish declines to the downside it moved on to test remaining resistance-levels that are not yet taken out already and therefore should not be kept by side, especially in this case I discovered a decisive formation Bitcoin completed recently that will be the determining source within the next times, therefore I detected all the important levels and likely destinies we should consider with Bitcoins established structure and the upcoming movements ahead.
Structural Developments:
As when looking at my chart now we can watch there how Bitcoin recently completed this main broadening-wedge-formation indicating an initial reversal to the downside and as Bitcoin now formed the breakout below the lower-boundary this completed the wedge-formation and Bitcoin is likely to continue after it moved back and a pullback from the breakout-zone anew. Bitcoin then will continue till there is support found in which it can reverse the dynamic anew and stabilize to form bullish continuations, this type of support is given within the blue support-zone marked in my chart, it is also the zone possible to be the origin of the major wave C to the upside when Bitcoin holds it properly otherwise a continuation and protraction of wave B will follow.
Upcoming Determinations:
Taking all these factors into consideration now it will be of high importance how Bitcoin reacts in the given zones and how it manages the possible stabilization in this zone, when it does not happen and Bitcoin increases with bearishness further this will lead to the protraction of wave B and into the second ascending-trend-line marked in blue where a new attempt of the wave C origin can happen, this is also a significant reference-point to hold because when this does not happen Bitcoin will increase with bearish pressure when moving into the bearish-continuation-zone. These are scenarios to elevate next times and initially, it will be important how Bitcoin approaches the supports, it will be an interesting development ahead.
Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, 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 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.