Hello There,
recently I spotted an important constellation within the cycle of Bitcoin, which caught my attention and is extremely crucial for the forthcoming of future price actions. While Bitcoin, in the short term, is still extremely bearish with many bears and whales dumping into the market, the middle-to-long-term perspective should be considered from a different angle. In this case Bitcoin could be about to pursue an extremely important cycle, which was already the origin of a massive peak expansion, boosting Bitcoin into massively high spheres.
Currently, Bitcoin could just be in the middle of this massively underlying cycle trend, which could repeat itself in a different shape to turn out with a fundamental reversal and increase of volatile price outbreaks. Such dynamics are always interesting to watch for traders when considering placing a trade in a breakout pattern and simultaneous setup for a high profit. This whole cycle mainly consists of 5 elements, of which 2 have already been completed in the current constellation.
You can watch all the important levels of cycle progress in my chart. What is highly important and a necessary factor for the current cycle to hold and continue as well is that when bearish volume increases in the short term within the next times, Bitcoin has the ability to continue seeking support within the range. If this does not happen and Bitcoin does not show the ability to hold the $45,000 to $50,000 range, then the potential for a downtrend continuation increases.
If this scenario happens, there are two possibilities. Either Bitcoin expands the current uptrend channel to lower levels in which it seeks support within the lower accumulation channel line marked in green, or a black swan event such as corona or a massive financial market crash like the one seen in 2008 could dismiss this whole cycle. Such possibilities would only increase if the bearish price action really accelerates to a point where there are no potentials for reversal.
Generally speaking, it will be highly important how Bitcoin reacts to the lower accumulation channel line of this gigantic uptrend channel. If there will be a stabilization and substantial bounce, the possibility of the repetition of the cycle almost increases above any bearish scenario. Also, the 9- and 21-MA are crucial signals here. If this cross down happens again, there is a likelihood that Bitcoin will continue with a cross up also. In any case, the upcoming short-term bearish trend dynamics are highly deterministic for any further price actions and cycle considerations.
Thank you very much for watching.
recently I spotted an important constellation within the cycle of Bitcoin, which caught my attention and is extremely crucial for the forthcoming of future price actions. While Bitcoin, in the short term, is still extremely bearish with many bears and whales dumping into the market, the middle-to-long-term perspective should be considered from a different angle. In this case Bitcoin could be about to pursue an extremely important cycle, which was already the origin of a massive peak expansion, boosting Bitcoin into massively high spheres.
Currently, Bitcoin could just be in the middle of this massively underlying cycle trend, which could repeat itself in a different shape to turn out with a fundamental reversal and increase of volatile price outbreaks. Such dynamics are always interesting to watch for traders when considering placing a trade in a breakout pattern and simultaneous setup for a high profit. This whole cycle mainly consists of 5 elements, of which 2 have already been completed in the current constellation.
You can watch all the important levels of cycle progress in my chart. What is highly important and a necessary factor for the current cycle to hold and continue as well is that when bearish volume increases in the short term within the next times, Bitcoin has the ability to continue seeking support within the range. If this does not happen and Bitcoin does not show the ability to hold the $45,000 to $50,000 range, then the potential for a downtrend continuation increases.
If this scenario happens, there are two possibilities. Either Bitcoin expands the current uptrend channel to lower levels in which it seeks support within the lower accumulation channel line marked in green, or a black swan event such as corona or a massive financial market crash like the one seen in 2008 could dismiss this whole cycle. Such possibilities would only increase if the bearish price action really accelerates to a point where there are no potentials for reversal.
Generally speaking, it will be highly important how Bitcoin reacts to the lower accumulation channel line of this gigantic uptrend channel. If there will be a stabilization and substantial bounce, the possibility of the repetition of the cycle almost increases above any bearish scenario. Also, the 9- and 21-MA are crucial signals here. If this cross down happens again, there is a likelihood that Bitcoin will continue with a cross up also. In any case, the upcoming short-term bearish trend dynamics are highly deterministic for any further price actions and cycle considerations.
Thank you very much for watching.
Uwaga
UPDATE: Huge amounts of BTC and ETH options recently expired.
This is likely to have a profound effect on upcoming prices.
There is an increased possibility that volatility will increase.
Zlecenie aktywne
ANALYSIS UPDATE: The whales pushed the bitcoin price dynamic towards the downside, unfolding massive selling pressure. More than 100 million long positions have been liquidated. Right now BTCUSD has already reached the initial support zones I mentioned in my analysis. This is a very crucial zone. Currently, there is still the possibility of BTCUSD dropping further. Also considering the other technical factors I mentioned recently.The next phases will be highly decisive. The overall sentiment is still bearish as massive selling pressure unfolds onto the market. If this dynamic should change in the next times, which is not the most likely scenario right now, there could be a consideration about a change in the direction. Nonetheless, we will consider the bearish case right now. If there should be a strong trade opportunity, we will move forward with it.
Transakcja zamknięta: osiągnięto wyznaczony cel
TRADING AND ANALYSIS UPDATE:BTCUSD reached the initial zones as projected. Now it is in a decisive phase.
Testing of the levels is highly likely before a formation forms, which shifts the dynamic finally and completely.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Join Premium Channels: bit.ly/4bUD8N8
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.