THIS Is What I Wanted TO See For USDBTC To Confirm Bullish!

23 Apr 2020

Hello, Traders Investors And Community, welcome to this update-analysis about bitcoins short-term price action, bitcoin made exactly these things I wanted to see to confirm bullish on the short-time-frame and we have seen the awaited volatility and momentum, in my past analysis about this subject, I described it if you did not see this analysis I highly recommend that you go to my account and look at it to have a full-depth-overview about the mechanism I mentioned.

Now as I said already we have to confirm the bullish uptrend two times, once it is the move about the resistance line in the neutral zone which you can see in my chart marked with the orange line, this move above the resistance gave bitcoin a bullish shape while still remain neutral. The next confirmation was the touch after the breakout of the falling grey trend-line you see in my chart it confirmed exactly on that point. After these confirmations where done bitcoin had the ability to become fully bullish as you see it in the bull-zone and move higher with heavy momentum.

In the next hours and days, we can anticipate bitcoin to have a smaller correction to the support/resistance level which you see in my chart marked with the blue box before moving higher. At that level, I expect some good support for the USDBTC and a set of new trading orders. Also, this current trend can be traded on the long side. The aggressive entry was after the second confirmation above the orange support-line and on the falling grey trend-line you see in my chart and the moderate entry is now to wait on the correction and then set the long-position there.

The current perspective is a short-term perspective meaning that bitcoin confirmed bullish in the short-term when we look at the middle-to-long-term-perspective we can spot different signs which playing a big role and have to take into consideration in determining bitcoins future outcome. As for now, we have a good bullish shape in the short-term we can expect bitcoin to move higher at least to the 38.2 % Fibonacci-resistance which you see in my chart. From that standpoint, we have to take a new picture of the underlying trend and elevate if bitcoin manages to continue higher.

Friends it should always be the goal to look at the market with a clear head to determine further trends, I see many people calling bitcoin for the moon in two weeks that is an unrealistic approach. We need to look at the market as it is and trade what we see not what we think or believe therefore please keep it in mind that the markets every time sending different signals and these signals have to be interpreted right to trade the market properly within the given circumstances.

Therefore thanks for watching, feel free to support and have a good day.
"The best qualification of a prophet is to have a good memory. "
FAREWELL

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

15 Feb 2024

Catatan

ANALYSIS UPDATE: BITCOIN moved forward with the bullish volatility increase to mark new higher highs in the upper directions.

Especially as the market moved against the bears this gave the momentum for the market to heavily accelerate in the other direction.