Bitcoin, Here Is Why The Bear-Market Could Be Over Already!

Hello, Traders Investors And Community and welcome to this analysis about bitcoins current price-formation and what we can expect the next time. It is true that bitcoin is still struggling at a historical level which is the 10.000 USD psychological mark which was already the origin of high volatility within the past, in this case, it needs to be remembered and kept in mind if this actual resistance mark confirms as resistance as it has done in the recent year or if bitcoin manages to provide a paradigm shift which turns out bullish, in the price-chart I found some fundamental significant signs which are important to look at in the current market environment, I already done a more short-time approach which I recommend you to watch when going at my account, as for now to have a full-multi-overview we are also looking at the weekly timeframe.

When looking at the current situation facing bitcoin we can notice that bitcoin is still trading within this huge and massive triangle which had its origins in the 2017 all-time-high, you can see the upper and lower boundary of this important triangle marked in my chart with the blue trend-lines. It is an underlying fact that these triangles the longer they are established showing a heavy and volatile breakout either to the up or downside. These breakouts can happen within smaller timeframes or also higher timeframes and it is within the high possible spectrum that we see such a breakout in this case also because the bitcoin price is consolidating in a wide range till months and years, the question now is either it confirms bullish or bearish and in this conclusion, it needs to be marked that there are some important signs which playing within the bullish scenario.

As you notice when looking at my chart, before the bull-market in 2018 started bitcoin formed a bottom below the 200-EMA which turned out to be the actual accumulation before the bull market started, you can see this accumulation-phase and coherent bottom marked with the orange triangle in my chart, ater this we had a bull-bear transition phase which first tested the 100-EMA with high volatility and after that fully confirmed the bull market which had its top at the middle line of the huge uprising channel you can see marked in my chart. Actually we had the exact same fractal developed after the corona-breakdown with its low in March, as you can see in my chart bitcoin provided the similar accumulation triangle below the 200-EMA and after that the bull-bear transition and finally its confirmation above the 100-EMA.

Now as this signal was so strong and provided the high which tested the middle line of the huge channel we can expect bitcoin to test the high established in the bull-market before a second time now this, however, needs to confirm with a clear close above the 10.000 USD level before that does not happen technically speaking the 10.000 USD level is still a massive resistance which can drag the price to the downside. Taking all these considerations together we can come to the conclusion that the bullish scenario is more possible at the moment than the bearish as I already mentioned in past analysis although there are still many bearish factors there is a higher probability for the bullish breakout which will increase when we move some higher in the current local resistance.

In either case, it will be interesting how bitcoin turns out to go ahead further, many people these days calling for the complete bottom or moon, but this, however, is at the moment a mere speculative approach and we first have to wait for the proper confirmation before making this conclusion as it is highly important in these volatile market-environments we are facing today not only in the stock-market but also in the cryptocurrency-space to keep patient and wait on the right confirmational-scenarios before placing the trade as to rush in the markets as there is no tomorrow. It will be highly interesting to see how bitcoin develops the next time and if the bear-market is already over as mentioned and seen in 2018 with a similar fractal confirming now.

In this manner, thank you for watching the analysis, support for more market insight, you can also subscribe to social media, all the best, and have a good week!
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Information provided is only educational and should not be used to take action in the markets.

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We see some exceptional volatility in the short-term

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Will be interesting to explore how bitcoin sustains further

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Bitcoins short term movement is on consolidation

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After these times of consolidation usually, an increasing breakout provides,
we will see how it's playing out especially on the shorter timeframe.

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ANALYSIS UPDATE: BITCOIN could boil up bullishness within the range till a final breakout above the upper trendlines emerged.

Since BITCOIN has done so it expanded with a great bullish wave into the upper trenches.