Here Is Why BITCOIN Is Setting Up For A Substantial BIG MOVE!

20 juin 2020Hello Traders Investors And Community, welcome to this update-analysis where we are looking at recent events, the current price-structure, and what we can expect from bitcoin the next days and hours. Bitcoin is currently trading at highly diminished volatility such a situation can indicate a volatile move sooner or later as these low-volatility do not hold forever as history has shown in bitcoin. The big question will be now if the volatility will show up either on the bullish or bearish side to trade long or short. As bitcoin has still a possible bullish formation on the short-term but on the other side sending some important bearish signals in the resistance I detected some meaningful signs which will determine the further outcome of bitcoin price-value therefore we are looking at the 4-hour locally timeframe.

Bitcoin is trading at an 50 old day mirroring level as you can watch it marked in my chart in blue, this important mirroring level currently serves as support which is holding the consolidation above but as bitcoin severely tested this mirroring level it gets weaker and weaker the more often bitcoin touches this level. Therefore it is from high importance to hold this level and bounce up from there to confirm to the upside when this does not happen and bitcoin falls below this significant mirroring level there is a high probability given that bitcoin continues bearish to the downside. As counting these factors together there are two scenarios coming up in front of us, each scenario can be traded rightly after the proper confirmation either with a conservative entry or with a aggressive entry.

Bullish Scenario (4-Hour Timeframe):


Bearish Scenario (4-Hour Timeframe):


Looking at the situation as we currently have it we can examine a slight advantage for the bulls as bitcoin is still trading in a higher possible descending triangle I already pointed out in past analysis which I recommend to you if you didn't saw it already to have a full-depth-overview. What is fact is that after such consolidation and low-volatile period comes and a period where the asset will show up more volatility and therefore decent opportunities to trade, in this case, it is important to keep a logical head and don't fall for the illogical speculative trap happening too often these times where people calling the moon in under two days as it is often a matter of confirmation where the price is heading this should be the reasoning approach for a smart trader in the market to accomplish out of the possible opportunities arising.

In this manner, thank you everybody for watching, good weekend, support for more market insights, and all the best my friends!

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