Bitcoin, Descending-Channel, How Decisive Breakout Determines!
Hi,
Welcome to this analysis about Bitcoin, we are looking at the hourly timeframe perspectives. As already mentioned in previous analysis Bitcoin had some sufficient supports lying in the 60500 regions which now confirmed as such and Bitcoin initially bounced there, besides that I discovered Bitcoin forming the descending-channel-formation with the coherent wave-count from A to C already completed as marked in my chart. Now when Bitcoin manages to stabilize further below the boundary to finally show up with a breakout as shown in my chart this will lead to further continuations and testing of remaining resistance, it will be important how Bitcoin approaches these as there can come further bullish developments when Bitcoin closes above resistance.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the market.
Welcome to this analysis about Bitcoin, we are looking at the hourly timeframe perspectives. As already mentioned in previous analysis Bitcoin had some sufficient supports lying in the 60500 regions which now confirmed as such and Bitcoin initially bounced there, besides that I discovered Bitcoin forming the descending-channel-formation with the coherent wave-count from A to C already completed as marked in my chart. Now when Bitcoin manages to stabilize further below the boundary to finally show up with a breakout as shown in my chart this will lead to further continuations and testing of remaining resistance, it will be important how Bitcoin approaches these as there can come further bullish developments when Bitcoin closes above resistance.
In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."
Information provided is only educational and should not be used to take action in the market.
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