BTC, Diamond-Bottom Complete, Targets Reached, Next Destinies!

2021년 8월 27일

Hello,

Welcome to this update-analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives, the recent events, the established formational structure, and what has changed since the origin-analysis about this subject in relation to the main diamond-bottom-formation I mentioned in the origin-analysis that has greatly completed and was the origin of astonishing upside-volatilities. Not only the diamond-bottom-formation gave the indication for these developments but also other technical factors I explicated, this shows how technical analysis can function very good when applied rightly within the markets, pre-condition must be always to approach the market with an unattached eye to come up with the right determinations rather than just mere over speculation into a one-sighted direction which is seen to often these times, therefore I detected all the important levels and upcoming developments relevant for Bitcoins established structure.

Diamond-Bottom Completion And Structural Developments:
As when looking at my chart now we can watch there that Bitcoin extended the second half of the diamond-bottom-formation till it finally completed the wave-count within to after this show up with the decisive breakout above the upper-boundary of the formation marked in my chart with the blue circle, once this breakout emerged Bitcoin set up for further continuations to the upside and moved on to continue with the established bullishness. Although Bitcoin several times pulled back in the structure to test the 30-EMA in red Bitcoin consistently continued and finally reached the diamond-bottom-formation target-zone recently within the 50050 level from where an initial pullback has shown up that should not be kept by side here, mainly Bitcoin has still a strong resistance within this levels and it is more likely that when Bitcoin moves into it a next pullback will show up.

Upcoming Determinations:
Taking all these factors into consideration now it has to be marked that Bitcoin moved into an initial overbought condition on the local structure and approached the upper-resistance which are still serving as such, therefore an incoming pullback development has an increased likelihood for Bitcoin here. These pullbacks will move on and continue especially once Bitcoin pulled back below the 30-EMA, when this happens it will be the setup for further continuations to the downside and establishment of the main wave C within the major wave-count to approach firstly the diamond-bottom-top which is now great support where Bitcoin has the ability to bounce and stabilize above. Otherwise, when this does not happen the next considerable support is within the 38735 level where Bitcoin has the opportunity to rightly stabilize, it will be an interesting development ahead.

In this manner, thank you for watching my analysis about BITCOIN and its completion of the diamond-bottom with the target-zones reached and the upcoming determinations, support the analysis with a like and follow or comment for more market insight!
"Eternal patience is the marching route to tremendous prosperity."

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

2021년 8월 27일

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Origin-Analysis: