BTC, MAJOR Triple-Bottom COMPLETE, CME-GAP At 49250 To APPOINT!

Hello Community,

Welcome to this update-analysis about BITCOIN, we are looking at the 2-day timeframe perspectives. In recent days Bitcoin has emerged with several very important price-actions which are matching also with my previous technical analysis and forecasts about Bitcoins determinations, this means the expectations of Bitcoins bullish developments finally come true now. This shows one more time that technical analysis is an empirical science when applied right expect of what academics stating so often that it is all just random walk and that technical analysis does not function, there is a lot of highly qualified evidence that this thought should be revised. In all these cases it is of utmost importance and the necessity to do not mix technical analysis with an emotionally loaded market approach and a mindset of one-sighted wishful thinking that expect the given technical factors the market is going into the particular direction, for a sophisticated trader such determinations should be bypassed and instead of an emotion-based approach the rules of technical analysis should be applied in an open-minded manner, this is what we also see in Bitcoin manifesting to reality now. If you did not see the origin-analysis of which this is the continuation I highly recommend it to watch to have a full-depth-overview. Therefore I detected the changed dynamics, important structural formations, and what we should expect now.

When looking at my chart and comparing it to the origin-analysis we can watch there that since the first analysis about Bitcoins triple-bottom Bitcoin managed to increase heavily with bullish volatility within the bullish-increased-volatility-range as mentioned. What also formed simultaneously with this bounce to the upside is an MA-golden-cross with the 10-MA marked in black crossing above the 20-MA marked in blue, this development already showed up in reversed form as a death-cross before Bitcoin increased with the heavy bearish declines to the downside which is also marked in my chart. Now after these volatilities have shown up Bitcoin shooted above the main triple-bottom neckline shown in my chart in blue, after this shooting above Bitcoin pulled back to validated the final triple-bottom-confirmation with this dynamic triple-bottom-confirmation-box marked in my chart in green, such confirmation is also common besides a complete horizontal confirmation and as Bitcoin within this confirmation-box also bounced off the 10-MA this was the final legit confirmation of the whole massive triple-bottom-formation with the additional strong bounce increasing bullishness above the triple-bottom-neckline again. What is also good and speaking for the bullish case and an ongoing stabilization above the neckline as well as confirmation is the low volume by price in this range. All these technical factors giving the edge now for Bitcoin fully completing the whole triple-bottom-formation with the further determinations ready to emerge.

Bitcoin, as it is now fully completed and confirmed the major massive triple-bottom-formation will continue with the further developments in the upcoming schedule. In this case, it is possible that there comes a second pullback to the neckline from where a further bounce has a high likelihood to establish. Overall as Bitcoin now is above very meaningful strong supports we can expect these to hold and a bullish stabilization above these zones from where Bitcoin can build up and continue further is very likely. With Bitcoin above these important support levels giving fuel for further continuations the CME-Gap-Level I also already mentioned in the previous analysis will be approached and the time-gap at 49250 marked in my chart has a high possibility to be filled, after that the fully confirmed triple-bottom-target-zone is within the technical triple-bottom-target-zone marked in green in my chart, this level is the technically the final triple-bottom-target which does not mean when it is reached that Bitcoin will have the ability to form a stabilization in this zone and continue further bullishly with the proper formation. Well, these facts and conditions Bitcoin has now shown have exemplified how swiftly and decisively the market can convert into a great setup structure with fundamental validations that are able to provide the right opportunities. Good setups are always given regardless of which conditions the market remains, what is the underlying essential requirement is that one does not mix up individual emotions of a direction into the market to keep advancing also when the market moves not in the right direction and do it better by time. For Bitcoin, it will be an interesting development ahead with the suggested conditions.

In this manner, thank you for watching my Update-Analysis about BITCOIN and its confirmed tripple-bottom-conditions with what should be expected in the upcoming times, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.

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Origin-Analysis: