Bitcoin-Market-Status-Update

26 cze 2020Hello Traders, Investors And Community welcome to this update-analysis about bitcoins current price-structure, what we can expect, and what we can not expect the next time. As I mentioned already in recent analysis bitcoin is developing the second possible fractal which can show the continuation to the downside when confirmed, besides that there are some other structural elements like the rising-channel in the 12-hour timeframe or the confirmed triangle on the 4-hour timeframe. Adding all these facts together there is a more bearish environment given where bitcoin is currently testing the remaining support levels which showing weak signs at the moment with important resistance factors in the structure. This analysis is building a coherent follow up to the past I made on the subject which I highly recommend you to watch to have the proper informational input.

Fractal Structure Supporting The Possible Second SMA-Confirmation (Daily Timeframe):

Primary Rising Channel, Bitcoin Currently Testing The Lower Boundary (12-Hour Timeframe):

Confirmed Triangle, Possibility To Show Up In The Short-Term (4-Hour Timeframe)

For now, this is a fundamental important situation for bitcoin because bitcoin is trading on the verge of a significant decision which is either to confirm the remaining weak support levels currently showing up or fall below and confirm bearish signals to the downside. As the bearish scenario is more likely at the moment this will confirm when bitcoin crosses the grey trendline which is also the lower boundary of the rising channel to the downside with high volatility and good volume, this can also cause the second SMA-confirmation you can see marked in my chart with the red area when bitcoin confirms this fractal a second time there will be high bearish pressure to the downside.

On the bullish side of things which is not the more possible at the moment, bitcoin has to confirm the support levels and keep them to test the higher boundary of the lower high trendline you can see marked in blue within my chart when this happens bitcoin is still not out of the woods because it can confirm this line bearish and show up again to the downside. Whatever happens, it is fact that there will show up heavy volatility as bitcoin is trading in a low-volatile zone for a long time now and this will cause a paradigm-shift where bitcoin decides the further outcome, as traders we should be prepared on this and take the appropriate action when opportunities rising up.

In this manner, thanks for watching, thanks to everybody who is supporting, and a good day.
Even the smallest shift in perspective can bring about the greatest predestination.

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