Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin , we are looking at the 30-minute timeframe perspective. Since Bitcoin has formed some formational ups and downs over the last times it is important to adjust within this periods and look what way Bitcoin is really moving rather than to speculate and overextend into one direction only as this is seldom the case, therefore trading within the markets needs constant adjusting to the particular individual situations before rushing into trades that do not satisfy, therefore I detected all the important levels and likely objections we should consider with Bitcoins established structure and upcoming movements ahead.
As when looking at my chart we can watch there how Bitcoin recently finally moved above the 50.000 USD in mark in most exchanges as expected and initially pulled back from there, furthermore Bitcoin has completed a major decisive inverse head-and-shoulder-formation in the structure marked in my chart with the blue neckline. The recent time’s Bitcoin is confirming the head-and-shoulder-formation within the orange box seen in my chart with the pullback to the neckline from where the origin for the next moves to the upside is expected and is likely to happen when Bitcoin manages the further stabilization above and continues further then.
Taking all these fundamental factors into consideration Bitcoin has completed a really strong formation in the structure that already activates upside targets, these objections are seen in my chart within the 51600 level and are highly likely to be reached when Bitcoin finally moves above the upper-boundary of the ascending-channel in dashed grey. After these targets are reached it has to be elevated how Bitcoin proceeds further and a short can be possible in this case as Bitcoin reaches a highly overbought condition however for now the expectation for the targets firstly to be reached is given, after that the situation needs to be elevated anew.
In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, 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