Bitcoin, Maintains Bullish Breakout, Further Determinations Now!

10 thg 4, 2021

Hi,

Welcome to this analysis about Bitcoin, we are looking at the 6-hour timeframe perspective. As mentioned in previous analysis there was a high likelihood given that Bitcoin finally shows up with bullish conclusions when the time is ripe which now happened as Bitcoin formed the breakout above important remaining resistances with a highly volatile move. Now as this major bullishness has shown up I discovered some important structural developments that will determine the upcoming destinies and especially when Bitcoin manages to bounce in the structure this can convert into worthwhile developments, therefore I detected all the important levels and likely destinies we should consider in the established structure and upcoming movements.

Structural Developments:
The bullish breakout bitcoin has formed moved rightly above the main descending-resistance-line marked in my chart in black from where Bitcoin has shown up with the actual bullish volatility after moving above this line. It is not seldom seen that after such heavy breakouts a pullback emerges firstly testing the previous zones of resistance where the price-action can stabilize and back-up to move on with further bullish developments. This will also validate the main wave C that is forming in the structure and the wave-count Bitcoin is forming as the major wave A and wave B already completed this will be the coherent origin of the main wave major wave C to show up with its sub-waves.

Upcoming Determinations:
As Bitcoin has shown up with these very good bullish alignments now it is the time to validate these breakouts and show up with further conclusions. Therefore it is necessary that Bitcoin rightly bounces within the dynamic confirmational-bounce-cluster in my chart bullishly to the upside, it is necessary that Bitcoin does not fall below this zone again because such a price-action can also invalidate the bullishness firstly however this is not the most likely scenario for now and the bullish bounce with further continuations should be more expected, when Bitcoin then finally shows up with it this will point to the dynamic target-zone marked in blue within the upper-boundary from where a pullback firstly is more likely.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, 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.