BITCOIN Makes The Preliminary A-T-H, What Are Key-Elements Now!

1 dic 2020

Hello Traders Investors And Community,

Welcome to this fundamentally important analysis about Bitcoin on the 4-hour timeframe perspective, what major historical price-actions we seen the last times here, Bitcoin made the all-time-high remaining since 2.95 years and taking out the high established within the 2017 bull market, in several established exchanges formed this new all-time-high while it is still below within others, what is crucial to assess here is that it is not seldom seen that after such all-time-high is made a bull-trap follows firstly moving into the new high-zone and after that pulling back again into the previously established range, such price-action could be watched within Bitcoins past and also within other assets as supply entering the market and providing a key bull-trap that firstly visits lower levels before a new approach can develop, besides that I detected other important signs within Bitcoins current structure worthwhile to look at, therefore we are looking at all the important levels and considerable price-actions we can expect upcoming times.

As when looking at my chart you can watch there the previous all-time-high-condition marked with the blue line at the 19666.00 this all-time-high is now taking out and Bitcoin firstly showed up with some smaller pullbacks here as it is approaching the zone anew this will be crucial as it will determine if this new high was just a bull trap or not, for the bullish perspective to emerge further it is now from high importance that Bitcoin closes within the box marked in my chart in orange, when Bitcoin just moves into this level and then shows a wick to the downside it will not be a sustainable breakout and proper bullish continuations ahead. When Bitcoin manages to move into this orange box and close there we can expect the next moves to establish as it is marked in my chart, such price-action will also activate the preliminary targets. On the other side when Bitcoin does not hold the level and moves below the 1st ascending-trend-line marked in my chart in blue this will move Bitcoin into a precarious situation where it firstly will visit lower levels in the structure and test the other remaining trendlines.

In this manner, thank you for watching the analysis, have a good day and also good trading, all the best!
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Information provided is only educational and should not be used to take action in the markets.