Bitcoin, Above Boundary, These Steps Can Lead To A New A-T-H!

Hello Traders Investors And Community,

Bitcoin has formed some very important price-actions these last times as a corona vaccine was found and central banks still pumping money into the market it managed a strong bullish breakout above the upper-boundary of its ascending-channel-formation, this established bullish pace can lead to a new all-time-high when Bitcoin just shows up with the proper price-action where I detected some meaningful key-factors playing into this scenario, therefore we should consider the current situation and what are possible outcomes Bitcoin shows up the next times.

When looking at my chart you can watch there this massive triangular-formation forming by the upper-boundary of the local-ascending-channel-formation and the global-ascending-channel-formation where a sideways movement between those two levels can establish over the next times in which Bitcoin has the ability to gain strength and finally form a breakout above the upper boundary of the ascending-channel-formation which than can lead to a new all-time-high either right away in 2020 or within Q1 or Q2 of 2021, currently there are good potentials given that this new all-time-high established sooner or later. In this case it is highly important that Bitcoin manages to hold the upper-boundary of the ascending-channel which is matching with the 15-EMA in blue lying there because when Bitcoin does not hold these levels sustainably and falls below them this will cause a bearish continuation and visit of lower levels with a high possibility.

The upcoming times as Bitcoin approaches the upper-boundary-resistance we can firstly expect a pullback here which will then prove the potency of the whole triangular-formation that can show up with really solid potentials when it is confirmed, on the more local timeframe we should not underestimate the bearish side as there are still strong resistance layers lying where Bitcoin firstly is likely to reverse and form the movements as they are seen in my chart, above this, we should consider how Bitcoin continues to form the formation, it will be an interesting journey.

In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“There are many roads to prosperity but one must be taken.”

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