Bitcoin, Potential Upside-Channel-Breakout Upcoming Next Times!

11 Şub 2021

Hi my friends,

Welcome to this analysis about Bitcoin in which we are looking at the 6-hour timeframe perspective. Since Bitcoin recently managed the breakout above the previously established range it has shown up with initial correctional movements, now besides that Bitcoin is forming a decisive formation that I discovered which will be worthwhile for the upcoming determinations and especially when Bitcoin manages to show up with the right price-action here this can lead to an acceleration in trend and increase in bullish pace, therefore I detected all the important levels and likely objections we should consider within the established structure and the upcoming movements ahead next times.

As when looking at my chart we can watch there how Bitcoin is now trading within this important ascending-channel-formation marked in my chart with the black boundaries, furthermore Bitcoin developed this coherent wave-count within the formation already fully completing waves A to C in the schedule and is now about to form the wave D within the structure that then has good origins for the final wave E when Bitcoin manages the sufficient bounce and increase of bullishness from support, this wave E will finalize the whole wave-count and can end in a strong protraction when Bitcoin shows up with the right pace, therefore it is highly important that the supports hold because when falling below this will invalidate further bullish approaches.

Taking all these factors into consideration now Bitcoin is in a situation where it has developed some solid upside validations however now it is the time for Bitcoin to properly build upon this and do not let the bears increase with bearish pressure again, therefore when Bitcoin manages to develop these bullish price-actions a great continuation can follow finally with Bitcoin moving above the upper-boundary and closing there to continue in the direction. For now, it is necessary to elevate these upcoming steps before finally moving into the direction, this is necessary to not just rush into the market and become food for the market makers and smart money operators pushing prices in bull-traps or stop-loss-huntings.

In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and 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 markets.