Hello,
Welcome to this analysis about Bitcoin on the 4-day timeframe perspectives. As I already mentioned in a recent YouTube video of mine Bitcoin is in a important mining difficulty cycle and historically speaking the bottom should come in after some more time, you can watch this video on my YouTube channel as it will describe the situation in more detail. There is a high likelihood given that Bitcoin shows up with the bottom after the completion of this main formational structure I am explicating here. In this case I am looking at all the important levels, structural formations and determinations we need to consider on the long term especially with a scenario in which Bitcoin has the abilities to reach out the $100,000 levle.
Therefore, as when looking at my chart now we can watch there how Bitcoin is forming this massive double top formation within which it already completed the first top and now within the second top has developed this head shoulder formation which is likely to be the origin for further continuations to the downside and when this happens with Bitcoin moving below the neckline of the double top this will be the origin for further continuations in which Bitcoin will finally reach out to the $14,500 level as it is marked in my chart, once this level has been reached Bitcoin will be highly oversold and from there on will give good abilities to form a major reversal from where bullish continuations emerge. With this being said when this whole formation completes and Bitcoin reaches out to the $14,500 level there will be a massive bounce in this level and if Bitcoin continues with it Bitcoin will actually form this huge bull flag formation which when completed will catapult Bitcoin way above the $100,000 level. In this manner now it will be highly crucial on how Bitcoin moves on here and how this whole double top actually completes lying grounds for a more profound bullish cycle setup, it will be an important development ahead.
In this manner, thank you for watching the analysis, 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 markets.
Welcome to this analysis about Bitcoin on the 4-day timeframe perspectives. As I already mentioned in a recent YouTube video of mine Bitcoin is in a important mining difficulty cycle and historically speaking the bottom should come in after some more time, you can watch this video on my YouTube channel as it will describe the situation in more detail. There is a high likelihood given that Bitcoin shows up with the bottom after the completion of this main formational structure I am explicating here. In this case I am looking at all the important levels, structural formations and determinations we need to consider on the long term especially with a scenario in which Bitcoin has the abilities to reach out the $100,000 levle.
Therefore, as when looking at my chart now we can watch there how Bitcoin is forming this massive double top formation within which it already completed the first top and now within the second top has developed this head shoulder formation which is likely to be the origin for further continuations to the downside and when this happens with Bitcoin moving below the neckline of the double top this will be the origin for further continuations in which Bitcoin will finally reach out to the $14,500 level as it is marked in my chart, once this level has been reached Bitcoin will be highly oversold and from there on will give good abilities to form a major reversal from where bullish continuations emerge. With this being said when this whole formation completes and Bitcoin reaches out to the $14,500 level there will be a massive bounce in this level and if Bitcoin continues with it Bitcoin will actually form this huge bull flag formation which when completed will catapult Bitcoin way above the $100,000 level. In this manner now it will be highly crucial on how Bitcoin moves on here and how this whole double top actually completes lying grounds for a more profound bullish cycle setup, it will be an important development ahead.
In this manner, thank you for watching the analysis, 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 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.