Hi,
Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. Over the past years, Bitcoin and Cryptocurrency established as the most volatile asset-class seen in 21th century, it was the subject of high volatile price-moves and exaggeration both in the up as well as the downside, as traders it is important to properly keep track of that and take proper measures to advance further. Although the conditions change always and the market landscape alters with new market participants coming in as well as changing fundamentals it is likely that this high volatility will keep also in the future, in this case, it is of high necessity to properly prepare for such changing determinations as this is what is necessary in keeping a consistent trading-approach.
As when looking at my chart now we can watch there that Bitcoin has established this major descending-channel-formation marked with the black boundaries and the coherent wave-count within the formation with the waves A to C already completed and with the wave C recently moving into the lower boundary from where the origin of the wave D is likely to show up, this wave D will be crucial as it will run directly into the upper resistance-cluster from where the wave E development is not far away, when this wave E has finalized and Bitcoin moved to the downside to test the lower levels of support this will be the development where a reversal and continued stabilization gets highly likely especially as Bitcoin completed the wave-count and moved into a high overbought condition.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, 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.
Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. Over the past years, Bitcoin and Cryptocurrency established as the most volatile asset-class seen in 21th century, it was the subject of high volatile price-moves and exaggeration both in the up as well as the downside, as traders it is important to properly keep track of that and take proper measures to advance further. Although the conditions change always and the market landscape alters with new market participants coming in as well as changing fundamentals it is likely that this high volatility will keep also in the future, in this case, it is of high necessity to properly prepare for such changing determinations as this is what is necessary in keeping a consistent trading-approach.
As when looking at my chart now we can watch there that Bitcoin has established this major descending-channel-formation marked with the black boundaries and the coherent wave-count within the formation with the waves A to C already completed and with the wave C recently moving into the lower boundary from where the origin of the wave D is likely to show up, this wave D will be crucial as it will run directly into the upper resistance-cluster from where the wave E development is not far away, when this wave E has finalized and Bitcoin moved to the downside to test the lower levels of support this will be the development where a reversal and continued stabilization gets highly likely especially as Bitcoin completed the wave-count and moved into a high overbought condition.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, 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.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.