Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin in which we are looking at the daily timeframe perspectives, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin has shown up with strong upside volatility almost exaggerating in the new all-time-high region with a bullishness never seen before now as this trend firstly stopped and Bitcoin showed up with initial bearish encounters to the downside it is an important question if Bitcoin somewhat can manage to take up the bullishness again sooner or later or the conditions alter to a more bearish interface which more unlikely nevertheless should not be underestimated here, therefore I detected all the important levels and likely outcomes we should consider.
Structural Developments:
As when looking at my chart we can watch there how Bitcoin is now forming this important descending-wedge-formation to the downside marked in my chart in black, furthermore Bitcoin has established these three dynamic trend-lines marked in my chart in blue, each one of them signaling a bullish reference-point holding the trend to the upside, when the next ones are broken to the downside this means the bearishness gets constantly higher, in this case, it is of high importance that Bitcoin at least manages to hold the last blue ascending-trend-line which will also match with the finalization of the descending-wedge-formation in terms of a strong bounce from this level that can move on to finalize the formation and show up with the next bullish wave.
Upcoming Perspectives:
In terms of taking all these factors into consideration, Bitcoin has a good potential given to show up with a bullish wave to the upside when it manages to bounce within this back-up-cluster marked in my chart in blue were the several supports coming together, in this case, it is necessary that Bitcoin really bounces here because when this does not happen and Bitcoin moves below the cluster it will indicate further bearish pressure and visiting of lower levels however when Bitcoin manages the bounce and the breakout above the upper boundary it will indicate the next wave to establish and pointing to higher levels possibly into the upper-extension-target-zone marked in my chart at the Fibonacci-extension from where the situation needs to be elevated anew.
In this manner, thank you for watching the analysis, have a good day, great contentment for everybody supporting, 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 in which we are looking at the daily timeframe perspectives, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin has shown up with strong upside volatility almost exaggerating in the new all-time-high region with a bullishness never seen before now as this trend firstly stopped and Bitcoin showed up with initial bearish encounters to the downside it is an important question if Bitcoin somewhat can manage to take up the bullishness again sooner or later or the conditions alter to a more bearish interface which more unlikely nevertheless should not be underestimated here, therefore I detected all the important levels and likely outcomes we should consider.
Structural Developments:
As when looking at my chart we can watch there how Bitcoin is now forming this important descending-wedge-formation to the downside marked in my chart in black, furthermore Bitcoin has established these three dynamic trend-lines marked in my chart in blue, each one of them signaling a bullish reference-point holding the trend to the upside, when the next ones are broken to the downside this means the bearishness gets constantly higher, in this case, it is of high importance that Bitcoin at least manages to hold the last blue ascending-trend-line which will also match with the finalization of the descending-wedge-formation in terms of a strong bounce from this level that can move on to finalize the formation and show up with the next bullish wave.
Upcoming Perspectives:
In terms of taking all these factors into consideration, Bitcoin has a good potential given to show up with a bullish wave to the upside when it manages to bounce within this back-up-cluster marked in my chart in blue were the several supports coming together, in this case, it is necessary that Bitcoin really bounces here because when this does not happen and Bitcoin moves below the cluster it will indicate further bearish pressure and visiting of lower levels however when Bitcoin manages the bounce and the breakout above the upper boundary it will indicate the next wave to establish and pointing to higher levels possibly into the upper-extension-target-zone marked in my chart at the Fibonacci-extension from where the situation needs to be elevated anew.
In this manner, thank you for watching the analysis, have a good day, great contentment for everybody supporting, 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.