Hi my friends,
Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspective. Bitcoin recently has shown up with an amazing breakout to the upside moving above important resistance zones and establishing a bullish pace to validate this initial bullishness now it is important for Bitcoin to show up with the proper price-action, when this happens it can increase worthwhile potentials, therefore I detected all the important levels and likely outcomes we should consider.
As when looking at my chart we can watch there how Bitcoin just developed this volatile bullish move above the 24000 USD level up to the high at 24600 from where Bitcoin now firstly has shown up with a pullback which is normally after such a breakout as price-action moves to the breakout-origins to confirm it. What is important here, is the descending-trend-line determined by the previous highs in the structure, this descending-trend-line was actually the reference-point for the bullish breakout and now it is building some important supports together with the 25-EMA in green and the 35-EMA in red Bitcoin formed this major support-layer marked in my chart with the blue back-up-cluster, this is the zone where Bitcoin needs to bounce decisively and move up on higher from there otherwise when this does not happen and Bitcoin moves below the cluster this will mainly invalidate the bullishness and point to lower levels, in this case, it is inevitable for Bitcoin to bounce from the zone to consider a solid bullish continuation.
Bitcoin has moved in an interesting structure where it has established a good bullish edge, to increase this edge and show up with further bullish possibilities Bitcoin has to validate it with the right price-action this is why we need to keep patient and elevate how Bitcoin reacts within the back-up-cluster and how the prospected bounce from there can establish as suggested, when this happens new conclusions can be made, it will be an interesting development and journey ahead.
In this manner, thank you for watching the analysis, have a great Christmas and upcoming Happy New Year, many thanks for all people supporting this year, all the best!
"Good luck is when opportunity meets preparation."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspective. Bitcoin recently has shown up with an amazing breakout to the upside moving above important resistance zones and establishing a bullish pace to validate this initial bullishness now it is important for Bitcoin to show up with the proper price-action, when this happens it can increase worthwhile potentials, therefore I detected all the important levels and likely outcomes we should consider.
As when looking at my chart we can watch there how Bitcoin just developed this volatile bullish move above the 24000 USD level up to the high at 24600 from where Bitcoin now firstly has shown up with a pullback which is normally after such a breakout as price-action moves to the breakout-origins to confirm it. What is important here, is the descending-trend-line determined by the previous highs in the structure, this descending-trend-line was actually the reference-point for the bullish breakout and now it is building some important supports together with the 25-EMA in green and the 35-EMA in red Bitcoin formed this major support-layer marked in my chart with the blue back-up-cluster, this is the zone where Bitcoin needs to bounce decisively and move up on higher from there otherwise when this does not happen and Bitcoin moves below the cluster this will mainly invalidate the bullishness and point to lower levels, in this case, it is inevitable for Bitcoin to bounce from the zone to consider a solid bullish continuation.
Bitcoin has moved in an interesting structure where it has established a good bullish edge, to increase this edge and show up with further bullish possibilities Bitcoin has to validate it with the right price-action this is why we need to keep patient and elevate how Bitcoin reacts within the back-up-cluster and how the prospected bounce from there can establish as suggested, when this happens new conclusions can be made, it will be an interesting development and journey ahead.
In this manner, thank you for watching the analysis, have a great Christmas and upcoming Happy New Year, many thanks for all people supporting this year, all the best!
"Good luck is when opportunity meets preparation."
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.