Since Bitcoin Volatiltiy Set The More Likely Scenario Develops!

8 ott 2020

Hello Traders Investors And Community, Welcome to this update-analysis where we are looking at bitcoins 4-hour timeframe perspective, the events which showed up, the current formational structure, what has changed to the initial analysis and what we can expect now with the increased possibility to happen. Since bitcoin recently has shown this strong upside volatility it made a major step above the established upper boundary of its important triangle, now as this expected move has shown up in bitcoins price-action the further alignments are likely to be developed, there are still some important outcomes bitcoin has to show properly before the full confirmation can be expected and when bitcoin shows up with it there is some great potential given.

Increased Possibilities:
Looking at my chart you can watch there this clean green shooting star-candle directly above the upper boundary of the triangle-formation marked in blue where it is now trading, this move was the initiative for the more likely bullish scenario which increased to a possibility of 85% now. The next time we can expect the movements going on and gaining strength before the final breakout can happen, this can show up as it is marked in my chart with consolidation between the 300-EMA marked in green and the upper boundary of the triangle-formation. When bitcoin then manages to move above the descending-trend-line marked in blue which is the last important resistance in this structure it will be the final confirmation for bitcoin into the expected bullish zone.

Outlook:
Now as the possibility for a bullish breakout and continuation increased by almost 20% it will determine the further outcomes in a profounded way and when bitcoin shows up as expected this will shift the whole dynamic into a more bullish picture where higher resistance levels in the structure still remaining can be tested. Currently, this is a likely scenario and the bearish one decreases with the possibility, however, this can increase again when bitcoin shows bearish signs in the structure it is currently developing. Till then it will be interesting to see how bitcoin develops further in the structure and how the bullishness can show up here.

In this manner, thank you for watching, good day my friends, and support for more market insight.
"Trading effectively is about assessing possibilities not certainties."

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

8 ott 2020

Nota

Initial Analysis: