Bitcoin, Managed A Great Triangle-Breakout, Likely Perspectives!

١٩ نوفمبر ٢٠٢٠

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at the triangle I already mentioned previously from a more local perspective, the recent events, the formational establishment and what we can expect the next times. Bitcoin recently managed to breakout above the major upper-boundary and succeeded in confirming this triangle bullishly to the upside, as this important price-action gave the initial direction now there are other meaningful factors I detected adding into the structure, therefore I discovered the preliminary significant levels and likely perspectives we should consider with Bitcoin and its further development ahead.

As when looking at my chart now you can watch there Bitcoin has shown up with this strong exponential volatile breakout above the upper-boundary and already tested the dashed grey descending-resistance-line. Now as it is not seldom seen that after such a breakout of the formation a pullback emerges travelling back to the initial breakout zone which will be in this case the upper-boundary of the formation, furthermore Bitcoin has some solid supports in this structure coming together and adding into this bullish-confirmational-cluster marked in blue were the several supports adding into consisting of the 80-EMA in green, the 120-EMA in red, the upper boundary of the formation in blue and also importantly the upper-boundary of the huge broadening-wedge-formation I mentioned previously. When Bitcoin approaches this important cluster a bounce to the upside is highly likely, this bounce will continue when the bullishness is strong enough and to finally appear with this it is from high importance that Bitcoin does not fall below the cluster again. When Bitcoin proceeds with the bullish price-action and moves above the dashed grey descending-resistance-line it is likely to continue and point into the triangle-targets marked in blue in my chart from where a new allocation needs to be done.

The motions Bitcoin has now shown up with have one more time shown that the cryptocurrency market can change extremely fast in volatility which can provide some good opportunities when catching up into the market with the right lineup this is where we succeded within the channel as we have also taken advantage of it and the approach measured by me here shows that technical analysis is a science that can function well when applied right regardless of what academics is stating so often that it is all just random walk, as Bitcoin has now developed this fundamental price-action it will be an interesting further development coming up next times.

In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“Good luck is when opportunity meets preparation.”

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

١٩ نوفمبر ٢٠٢٠

ملاحظة

Initial Analysis On The Higher Timeframe Perspective: