BITCOIN, The Historical HASH-RIBBON-SIGNAL Flashed Blue!

Hello,

Welcome to this update-analysis about Bitcoin, the weekly timeframe perspectives, and its main hash-ribbons conditions that have now changed in the recent times since I uploaded the first analysis. In the last time's important developments have occurred within the market as miners that got restricted because of the China mining ban have settled into new supportive places and began mining again this led to an increase in the hash rate and finally the 14th historical hash-ribbons-signal has emerged, therefore I discovered all the important levels and upcoming determinations we need to consider with Bitcoins established structure, formation specialities and upcoming determinations we need to consider now.

Structural Developments:
Since the previous analysis Bitcoin moved on with its decreasing bearish momentum in the structure with a simultaneous increase of the hash rate this was the origin for the 10-Day EMA finally crossing above the 20-Day EMA and in this case the final hash-ribbons-signal emerged. Once this happened Bitcoin also bounce within the ascending-trend-line marked in dashed grey in my chart, this was also the same point and intersection together with the descending-trend-line in black. Once this happened Bitcoin showed up with this heavy bullish volatility increase to the upside and printed four exceptionally green candles to the upside adding a new green candle to the three white soldier formation developed.

Hash-Ribbon Development-Phases:

Example With The Stages-Examinations Out Of The 15 Historical Hash-Ribbon-Signals:

Upcoming Determinations:
Taking all these factors into the consideration now Bitcoin has emerged not only with the great hash-ribbons buy-signal but also with the other bullish indications that are building the fundament for a continuation in the upcoming times. In the past, the hash-ribbons buy-signal was always followed by heavy bullish increases to the upside and this is what should be also considered here. Besides that Bitcoin rightly managed to breakout above the 20-MA marked in my chart in blue which gives the additional bullish possibility increase. Therefore what should be expected now is Bitcoin moving on in the expansion phase B that is explained in my chart, it will be an interesting development ahead.

In this manner, thank you for watching my analysis about BITCOIN and the main hash-ribbons-structure with the recent buy-signal emerged and upcoming determinations, support the analysis with a like and follow or comment for more market insight!
"Astonishment is the basis of reverence"

Information provided is only educational and should not be used to take action in the market.

Comment:

Origin-Analysis: