Bitcoin, Since Bearish Pullbacks, These Levels Are Important!

16 mar 2021

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 2-hour timeframe perspective. Recently Bitcoin shown up with heavy serious bearish pullbacks that should not be underestimated here nevertheless the potential for stabilization and ongoing bullish continuation is given, in this case, I discovered all the important levels and likely destinies we should consider within the established structure and upcoming movements ahead.

As when looking at my chart we can watch there how Bitcoin moved into this ascending-trend-line marked in blue which is also matching with the horizontal supports and the 200-EMA in red lying there making it a good zone for Bitcoin to move initially to the upside and test the 65-EMA in green and this descending-resistance-line in grey, when Bitcoin then manages a sustainable stabilization within this range between the descending-resistance-line and the ascending-support-line this can lead to a great upside-breakout when Bitcoin increases with bullishness further, therefore, Bitcoin needs to close above the descending-resistance-line properly and do not increase with bearish pressure again. Mainly it is inevitable that Bitcoin stays within the range considering an upside-breakout and do not fall below the ascending-support-line because this will invalidate the whole bullishness and move to lower levels to be reached.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.