Bitcoin, Since Volatiltiy Increased, Here Is What To Consider!

2020年10月16日

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at bitcoins 12-hour timeframe perspective, it is also an update-analysis to the structure I detected on the daily timeframe and the strong resistance lying there, if you did not see this analysis already I highly recommend it to watch by going on my profile to have a full-depth-overview. The last times we saw bitcoin increasing the volatility within the range formed in the 11200-11600 level, since bitcoin confirmed the upper resistance-cluster properly to the downside bitcoin is now mingling there and tested already the lower levels, a big question we should ask now if this bearish pressure established here will increase and move to the lower levels at the end or bitcoin manages to somewhat stabilize in the structure and take out the strong resistance layers above which still existing and should not be underestimated in this structure bitcoin has formed.

Recent Events And Established Structure:
Now as you can watch marked in my chart bitcoin just recently tested the 15-EMA in green, which is the 30-EMA also in the 6-hour chart, together with this EMA bitcoin also tested the middle-line of this massive ascending-channel-formation, these two supports reference points bitcoin tested recently with a heavy volatile bearish move which is crucial here because when bitcoin gains the strength to move below them it will continue to the lower levels to be reached in the structure consisting of the blue back-up-cluster. The next times we can expect bitcoin to move further with its consolidation here and after some time make the necessary decision, either bitcoin manages to stabilize further or bears gaining in strength and finally push below the support that lower levels will be reached.

Important Considerations:
Bitcoin is in a situation where it has to show how it will proceed further from this position and if there come more bearish pressure which will lead to a pull-back-extension or it manages to hold this structure, currently the bearish side should not be kept by side as we saw this bearishness already increasing the last times. When bitcoin now continues with this bearish pressure and moves below the support levels it will continue further till there is substantial support found which can reverse the whole dynamic again which is in this case the blue back-up-cluster coming several supports together and forming this coherent cluser which is highly important to hold because when bitcoin closes below it this will increase the possibility to further into the bullish-invalidation-zone marked in my chart.

In this manner, thank you for watching, good day my friends, and support for more market insight.
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Information provided is only educational and should not be used to take action in the market.