VincePrince

Bitcoin, Channel-Breakout Developed, Continuations Ahead!

BYBIT:BTCUSD   Bitcoin / U.S. Dollar
Hi,

Welcome to this analysis about Bitcoin , we are looking at the 4-hour timeframe perspective. Since Bitcoin recently has shown up with this strong bounce to the upside it has formed a very interesting structure determined by this descending-channel-formation marked in my chart with the black boundaries. Recently Bitcoin managed to bounce above the upper boundary and close there, this gives the setup for a sufficient continuation to the upside when Bitcoin holds this zone further, when this happens as the likely scenario Bitcoin will move on and continue to the upside-targets marked in blue in my chart from where the situations need to be developed further and it needs to be shown if Bitcoin manages a continuation above the remaining resistances.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Good luck is when opportunity meets preparation."

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

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