VincePrince

BITCOINs Massive CUP-HANDLE-FORMATION COMPLETED!!!

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

Welcome to this Update-Analysis about Bitcoin , in this analysis, we are looking at the 2-day timeframe perspectives. The major cup-and-handle-formation I already mentioned in the previous analysis has now been rightly completed and Bitcoin pulled back from the main resistance to find support within the confirmational-support-bounce-zone rightly as expected, from there on Bitcoin bounced, and continued with bullish developments till the final breakout above the upper-neckline now recently emerged. Technically this was the confirmation of this massive formation and in this case now I discovered the further developments and considerations we need to examine in this situation.

As when looking at my chart now we can watch there how Bitcoin is now finally above the neckline and above this neckline it is now forming this confirmational-formation marked with the orange box which can convert into a bull-flag-formation or also a triangle-formation from where on Bitcoin will have the ability to breakout and continue with its further bullish developments to the upside when Bitcoin does not show up with bearish signs and firstly pulls back in the structure. Technically this whole completion of the formation has now activated the target of 95255 USD which is likely to be reached when the bullish demand keeps increasing and Bitcoin advances further with higher highs.

Taking all these factors into considerations now there is a good environment for Bitcoins advancement ahead of next times, not only technically but also fundamentally as from a technological perspective many new advancements in this Bitcoin and Cryptocurrency field accelerated such as the adoption of Bitcoin and Cryptocurrency in many fields of the economy reaching from classical payment providers such as MoneyGram adapting Cryptocurrency or Twitter implementing the Bitcoin Lightning Tipping feature, this news currently spread almost daily with new advancements in the field and they also overweighted the negative news that still are there, as we can see now Bitcoin survived this recent China FUD and has the proper framework to do so also in the future.

In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
"Good fortune is when opportunity meets preparation."

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