Bitcoin, Breakout In A-T-H-Dynamics, Determined Objections Now!

14 mar 2021

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspective, recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin recently made the main breakout into the new all-time-high-regions where it has shown up with great bullish volatility, now as these events emerged I discovered the underlying structure Bitcoin is forming and what will determine Bitcoins further outcomes within the next times, therefore, it is necessary to elevate what is possible and what is not possible, in this case, I detected all the important levels and likely destinies we should consider with Bitcoins established structure and the upcoming movements ahead next times.

Structural Developments:
As when looking at my chart now we can firstly see that Bitcoin is trading within this massive ascending-channel-formation marked with the boundaries in blue, secondly as Bitcoin recently developed the new highs with the breakout it moved on with the established wave-count and the wave C within this wave-count. Therefore it is likely that Bitcoin will form wave D within the next times that will confirm to the EMA-supports and the equilibrium-range given from where the possibility for wave E to the upside is given. This wave E will complete the whole wave-count and it will run directly into this dynamic-resistance-zone marked in orange in my chart where the potential for a pullback is increased.

Upcoming Determinations:
Taking all these factors into consideration Bitcoin has established a good pace from where it can build up and show up with further determinations, it shows one more time how volatile the cryptocurrency market is and that it is important to be prepared for such dynamics. Now when Bitcoin approaches this main dynamic-resistance-zone and pulls back there which is likely this does not mean Bitcoin is completely bearish, therefore, when Bitcoin manages a sustainable stabilization within the major ascending-channel-formation it can approve the set-up and origin for the next waves to the upside, for now, it will be important how Bitcoin approaches the dynamic-resistance and how it moves on further from there.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, 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.