Why BTCs H-S-Formation Will More Likely Form A Upside-Breakout!
Hello,
Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. As already mentioned in the former analysis Bitcoin has formed profound structures for a bullish aligned development in the structure. Not only has Bitcoin it's Wyckoff Accumulation ongoing but also has formed the main channel-breakout on the more local term as well as the upcoming Hash-Ribbons-Signal that has a very high possibility to emerge if you did not see these analyses already where I mentioned these technical developments I highly recommend it to watch to have a full-depth-overview. In this analysis now I am looking at the massive head-shoulder-formation Bitcoin is forming and I examine why a bullish breakout to the upside has a higher possibility compared to the bearish one to the downside.
In such a trend-finding phase in which Bitcoin currently still is it is necessary to do not overspeculate the situation because this can fastly lead to a one-sighted unlogical and idealistic approach. Rather it is highly important to consider the market out of a neutral perspective to elevate what things are possible and what things are clearly not possible. What functioned in the past is repeating patterns that have an empirical meaning and therefore have a high possibility to complete in the present and future again similarly as it happened before. In the last days and weeks highly regulatory measurements came up from societies such as China blocking the Bitcoin development and innovation however it has to be stated that such similar scenarios already happened several times in the past and every time Bitcoin could recover and emerge with new volatilities, in fact as for us as traders volatilities either up or down can provide the proper opportunities to take advantage of.
Bitcoin Structure With MACD Divergence And Formational Development:
As when looking at my chart now the first thing that is important here and meaningful to consider is the fact that Bitcoin is forming this major bearish MACD-divergence in the structure with the lower lows formed in the actual bullish price-action while higher highs emerged in the MACD oscillator. Such a MACD-divergence is a classical divergence and a reliable indication for a solid reversal in the structure. Furthermore, Bitcoin has a symmetrical triangle in the more local structure that I already mentioned previously has a higher possibility to breakout to the upside and with the breakout above the upper-boundary of its descending-channel already developed a further appropriate ground for incoming increased bullishness awaited in the schedule. The right shoulder of the massive head-shoulder-formation already fully completed in the structure and had the same size as the left shoulder in the head-and-shoulder-formation, in relation to this structure now Bitcoin is setting up to form the final head-shoulder-confirmation of which the bullish breakout has a higher possibility.
Upcoming Determinations And Likely Scenarios To Consider:
Taking all these factors into the consideration now it will be important for Bitcoin to elevate how it develops further in the structure here. Likely is that Bitcoin breaks out of the triangle as already mentioned and continues with testing the upper levels of remaining resistance mainly lying within the 41200 USD level marked in my chart in blue. When Bitcoin reaches these zones a pullback has an increased possibility to follow however as Bitcoin has major support zones in the structure determined by the ascending-trend-line in dashed grey and also the 20-EMA above which Bitcoin will be when the breakout happened there is a great likelihood given that Bitcoin stays above these zones and from there on sets up for a new upside-breakout-attempt which will be the crucial factor in this whole situation because when Bitcoin finally manages to break out above the resistance and especially above the descending-trend-line it will be the final completion of the head-and-shoulder-formation to the upside. For now, we should keep patience and look at how the market develops to be prepared for the upcoming volatilities likely to happen.
In this manner, thank you for watching my analysis about BITCOIN and the analysis on why an upside-breakout out of the head-and-shoulder-formation has a much greater likelihood, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, 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, we are looking at the 12-hour timeframe perspectives. As already mentioned in the former analysis Bitcoin has formed profound structures for a bullish aligned development in the structure. Not only has Bitcoin it's Wyckoff Accumulation ongoing but also has formed the main channel-breakout on the more local term as well as the upcoming Hash-Ribbons-Signal that has a very high possibility to emerge if you did not see these analyses already where I mentioned these technical developments I highly recommend it to watch to have a full-depth-overview. In this analysis now I am looking at the massive head-shoulder-formation Bitcoin is forming and I examine why a bullish breakout to the upside has a higher possibility compared to the bearish one to the downside.
In such a trend-finding phase in which Bitcoin currently still is it is necessary to do not overspeculate the situation because this can fastly lead to a one-sighted unlogical and idealistic approach. Rather it is highly important to consider the market out of a neutral perspective to elevate what things are possible and what things are clearly not possible. What functioned in the past is repeating patterns that have an empirical meaning and therefore have a high possibility to complete in the present and future again similarly as it happened before. In the last days and weeks highly regulatory measurements came up from societies such as China blocking the Bitcoin development and innovation however it has to be stated that such similar scenarios already happened several times in the past and every time Bitcoin could recover and emerge with new volatilities, in fact as for us as traders volatilities either up or down can provide the proper opportunities to take advantage of.
Bitcoin Structure With MACD Divergence And Formational Development:
As when looking at my chart now the first thing that is important here and meaningful to consider is the fact that Bitcoin is forming this major bearish MACD-divergence in the structure with the lower lows formed in the actual bullish price-action while higher highs emerged in the MACD oscillator. Such a MACD-divergence is a classical divergence and a reliable indication for a solid reversal in the structure. Furthermore, Bitcoin has a symmetrical triangle in the more local structure that I already mentioned previously has a higher possibility to breakout to the upside and with the breakout above the upper-boundary of its descending-channel already developed a further appropriate ground for incoming increased bullishness awaited in the schedule. The right shoulder of the massive head-shoulder-formation already fully completed in the structure and had the same size as the left shoulder in the head-and-shoulder-formation, in relation to this structure now Bitcoin is setting up to form the final head-shoulder-confirmation of which the bullish breakout has a higher possibility.
Upcoming Determinations And Likely Scenarios To Consider:
Taking all these factors into the consideration now it will be important for Bitcoin to elevate how it develops further in the structure here. Likely is that Bitcoin breaks out of the triangle as already mentioned and continues with testing the upper levels of remaining resistance mainly lying within the 41200 USD level marked in my chart in blue. When Bitcoin reaches these zones a pullback has an increased possibility to follow however as Bitcoin has major support zones in the structure determined by the ascending-trend-line in dashed grey and also the 20-EMA above which Bitcoin will be when the breakout happened there is a great likelihood given that Bitcoin stays above these zones and from there on sets up for a new upside-breakout-attempt which will be the crucial factor in this whole situation because when Bitcoin finally manages to break out above the resistance and especially above the descending-trend-line it will be the final completion of the head-and-shoulder-formation to the upside. For now, we should keep patience and look at how the market develops to be prepared for the upcoming volatilities likely to happen.
In this manner, thank you for watching my analysis about BITCOIN and the analysis on why an upside-breakout out of the head-and-shoulder-formation has a much greater likelihood, will be great when you support it with a like and follow or comment, great contentment for everybody supporting, 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.
Comment:
Ongoing Wyckoff-Accumulation:
Comment:
Bitcoin Descending-Channel-Structure Analysis:
Comment:
Analysis After Descending-Channel-Breakout Emerged And Ongoing Confirmational Development:
Comment:
Bitcoin Analysis About The Monthly Setup And Filling Of The CME-GAP:
Comment:
Bitcoin Triangle-Formation Developing On The Local Term:
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