Bitcoin, Since Massive Long-Liquidations, Crucial Scenarios Now!

18 avr. 2021

Hi,

Welcome to this analysis about Bitcoin, we are looking at the 6-hour timeframe perspectives. In the last 24 hours massive long-liquidations have taken place in Bitcoin, it was the highest volume of liquidations seen so far in 2021 and it was great for us in the VIP channel to enter rightly on the short-side before these heavy bearish volatilities have shown up. These events determine one more time how volatile the cryptocurrency market keeps and that it is necessary to right evaluate these changes in direction and prepare on it with the right line-up as the market can change swiftly and fastly like it is in no other asset class, this is why a long-only-approach will not properly serve when the market shows up with bearish alignments like it was the case here.

As when looking at my chart we can watch there how Bitcoin now recently with the bearish volatility moved into this main ascending-trend-line where it firstly confirmed support also in the 300-EMA, now it is likely that Bitcoin will test the upper resistances from where a pullback firstly should be expected the crucial part then comes when Bitcoin moves on with the wave C to test the remaining support levels as marked with the orange box, when Bitcoin manages to bounce sufficiently within this zone and move higher possibly into the bullish-stabilization-zone that can lead to further bullish approaches, otherwise when this does not happen and Bitcoin increases bearish pressure this will lead to a wave-C-extension below this zone.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
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Information provided is only educational and should not be used to take action in the market.