Bitcoin, Reaches Targets, These Considerations Important Now!

Hi my friends,

Welcome to this update-analysis about Bitcoin, we are looking at the 30-minute timeframe perspective. Since the origin-analysis in which I mentioned the important inverse head-and-shoulder-formation with Bitcoin forming the complete confirmations have shown up with the final bounce from the neckline and the further movements until the targets finally reached, if you did not watch the analysis already I highly recommend it to watch to have a full-depth-overview. Now after these structures developed I have detected other important signs worthwhile to look at especially the next times there are important steps leading to some good potentials ahead, therefore I detected all the important levels and likely destinies.

Structural Developments:
As when looking at my chart now we can watch there Bitcoin fully completed the head-and-shoulder-formation and reached the targets where it initially pulled back to move above this zone again, this zone marked in red in my chart which was previously resistance, is now support. Furthermore, Bitcoin marked above the 40- and 30-EMA and has also supports by the ascending-channel-formation protracted trendlines, all these levels adding together and building this dynamic support-zone marked in my chart in orange which needs to hold for Bitcoin to stabilize further and complete the potential bull-flag-formation above these levels marked in my chart in blue, when this happens and Bitcoin completes the formation it will lie good ground for the continuation.

Upcoming Determinations:
Bitcoin now is in a situation where it initially reached out the target-zone and also already managed further highs, now it is the time for Bitcoin to potentially continue this pace with completing the bull-flag as mentioned. Nevertheless, it is of inevitably high importance for Bitcoin to rightly validate this and manage the proper confirmation of the major bull-flag because when this not happens Bitcoin can also increase with bearish dynamics again which is not the most likely scenario however it should also not be underestimated. For now, it will be important to elevate how the formation completes before rushing into unnecessary trades and overspeculate the situation, it will be an interesting development ahead.

In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"The high destiny of the market is to explicate, rather than to speculate."

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

Comment:

Origin-Analysis: