BTC, PARAMOUNT Tripple-Bottom POTENTIAL, Determining Factors!

Hello,

Welcome to this analysis about Bitcoin, we are looking at the 2-day timeframe perspectives. As already mentioned in previous analysis Bitcoin is right in an accumulation phase in which institutions bought in and public opinion is manipulated through media and certain developments that spread the certain cause of a further continuation of the bearish pressure to come after this phase has completed however the possibilities for a bullish reversal are higher as I discovered and in this case I detected a massive potential formation that has a high likelihood to be the reversal origin and structural bottom together with other technical factors, therefore we are looking at all the important levels and meaningful determinations.

Structural Developments:
When looking at my chart now we can watch there how Bitcoin in the recent days bounced from the range between 29700 and 30810 where it already bounced several times in the past and always closed above the 30810, this was also the case here. Besides that, the bullish increased volatility has formed this candlestick formation with the three white soldiers which is a strong bullish reversal candlestick formation. This bounce in the structure is building the third structural bottom within this range and therefore has formed the foundation of a dedicated triple bottom together with the two previous bottoms like they are marked in my chart. All these factors are positive factors for a solid bottom building in this structure.

Furthermore looking at the Moving Average structure it has to be marked that Bitcoin recently managed to bounce above the 20-MA marked in my chart in blue which it did not do in this whole bearish downtrend and accumulation phase, Bitcoin always tested this 20-MA and now finally managed to bounce above it, in this case now the 20-MA is a strong support-zone here on which Bitcoin has the ability to build upon. What is also very interesting and can lead to the next confirmational signal is that the 9-MA marked in my chart in black is about to form a golden-cross with the crossing above the 20-MA that has a good possibility to emerge within the near future when Bitcoin increases bullishness ahead of incoming times.

Upcoming Perspectives:
As Bitcoin now showed up with these initial bullish developments in the structure there is the potential given that Bitcoin firstly moves on to test the local support that is marked in red in my chart, this will be crucial because Bitcoin needs to move above this level to maintain further bullish pace however when Bitcoin manages to do so there is this bigger bullish increased volatility range marked in my chart with the green range, it is a range where bullish developments can move more easily and with more increased volatility than before. In these cases when Bitcoin approaches these zones it is highly important that Bitcoin does not show up with bearish signs that can invalidate the structure again.

When Bitcoin then develops in the best case scenario and does not show up with any bearish invalidation signs then there is the potential for the completion of this whole formation as the determined bottom and finalization of the whole triple-bottom which will happen when Bitcoin finally shows up with the ability to breakout above the main triple-bottom-neckline marked in blue, such a final confirmation will activate higher targets and Bitcoin will have the origins to build upon. For now, it is necessary to keep patient and await the proper validation to when they happen to be prepared on incoming volatilities and do not get confused by market noise and perplexing price-actions-developments as this is normal in such a phase.

In this manner, thank you for watching my analysis about BITCOIN and its massive triple-bottom that has the potential to finalize with the upcoming right price-actions, great when you support it with a like and follow or comment for more market insight!

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