Bitcoin, Formed Major B-Wedge-Formation, Likely Steps Ahead!

18 lis 2020

Hello Traders Investors And Community,

Bitcoin recently has shown up with exaggerated bullish volatility to the upside and in this case, I detected some highly important signs on the 2-hour timeframe perspective, Bitcoin already formed this massive formation where when it shows up with the proper price-actions now can increase with potentials coming up the next times, till then it is important to assess the proper validation before going into the direction and when it happens there will come some great opportunities ahead, therefore I detected all the important levels in the current structure and what outcomes are likely to show up the upcoming times under given circumstances.

When looking at my chart you can watch there Bitcoin builds this huge broadening-wedge-formation with the boundaries marked in blue and the wave-count already formed and completed with the recent breakout above the upper-boundary as it is marked in my chart, above this boundary Bitcoin now builds this new important formation which the confirmational-triangle-formation marked in orange in my chart that will be worthwhile the next steps ahead. When Bitcoin manages to breakout above the boundary of this formation and close there this can lie ground for continued bullish pace further in the structure, when Bitcoin manages then to pull back and confirm the 15-EMA in blue together with the upper-boundary as support this will be the proper price-action for continuations ahead, in this case, it is highly important that Bitcoin does not fall below the 15-EMA and the boundary again because this can possibly invalidate the bullishness and show up with bearish pressure visiting lower levels in the structure.

Bitcoin is trading in a situation where it has formed some solid formational indications that can show up with great continuation realizations ahead as suggested, now it is important to keep patient to the final confirmation to anticipate the upcoming targets. When Bitcoin reached the target zone seen in my chart at the 19400 level it has to be elevated if Bitcoin manages to continue right away bullishly from there or firstly forms a reversal testing lower levels in the structure anew nevertheless the bullish pace Bitcoin has shown up with here can continue when the conditions develop in the right manner, this will be an interesting journey ahead.

In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“Miracles tend to happen outside the usual experiences.”

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