Welcome to this analysis about Bitcoin in which we will look at the daily timeframe perspectives. Bitcoin moved into a decisive zone where the final conclusions still awaiting. In this structure, there are some important signs I detected that will be determining factors in the upcoming times.
Structural Developments: Bitcoin now severely tested the 30.000 USD level as support and still bounced from this zone however it is also an important bullish reference zone to hold because with a breakout below this zone Bitcoin will likely see lower values in the upcoming times. Now as this support is still holding and Bitcoin remains in this correctional shape it is likely that a bounce to the upside from this zone can show up that will firstly move above the established range and its resistance at the 40200 to 40900 level to move up higher from there and test further levels which will be crucial as already mentioned in previous analysis Bitcoin still has strong resistances lying in these zones which will likely show up with a pullback when moved into.
Upcoming Determinations: Taking all these factors into the consideration now it will be important to elevate how Bitcoin approaches further here from the structure especially from the established initial support base. When Bitcoin continues to build up and manages to sustainably develop above the 37800 levels this will be the origin for the further continuations, however, when Bitcoin moves on the main resistance-cluster marked in red will be tested before the pullback will establish. The main question after that is how Bitcoin approaches the lower zones of support again so especially this ascending-trend-line from where it now bounced these several times.
In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day as well as weekend, and all the best to you! "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 markets.
I really like your work, but now i don t agree
I think it will break 30k without another high
Just my opinion:)
Kanlilozord234
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@OptimoomFX, Same, big HS Formation, target 10k
Juanjo_LP
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BTC has been showing unprecedented stability in its falling... so I wouldn't be surprised to see it bounce back and even that June'21 becomes March'20 in hindsight
I think it will break 30k without another high
Just my opinion:)