Bitcoin MM-Bands Bringing Clarity Into The Situation!

21 Ogo 2020

Hello Traders Investors And Community,

Welcome to this analysis where we looking at an important indicator within bitcoins 2-day timeframe perspective which are the mayer-multiple bands I found a strong tool to analyze bitcoins current market condition based on historical price-data and according to this the comparison of bitcoins past to the current situation where I detected some interesting and worthwhile facts important to consider now. The analysis helping to show what bitcoin can do, what bitcoin can not do, and where it can go ahead in its actual state. As many people getting completely bullish at the moment there are some signs we should consider now and what are best applied derived from other technical factors I showed last days ago which can add to a coherent assessment of bitcoins market conditions which are meant to consider bitcoin next outcomes in destiny.

Mayer-Multiple-Bands:
As you can watch in my chart the bands showing greatly well the current state of bitcoins price-action as they from the overbought condition to the oversold condition together with letters A - F all together with equilibrium coming into 7 stages, mayer-multiple-bands are the multiple of the current Bitcoin price over the 200-days moving average. Furthermore, they are serving always as important resistance and support levels as it can be watched also in past price actions when the price consolidates into one band and moves on it will show a heavy breakout and increase in volatility within a high possibility. Also, the extremums of the bands which are marked in my chart with the peaks and valleys provided by bitcoin will show a shift in price and a heavy reversal when they are reached, there was always a heavy reversal following up when either the upper overbought band or the lower one was reached.

Current State Of Bands:
As you can watch in my chart the bitcoin price currently moves within the middle-channel of the bands which is actually the transition-phase from bearish to bullish or bullish to bearish with the equilibrium line marked in green within the middle, currently, bitcoin is still in the bearish state of the equilibrium-channel and has the green line right above which can mean bitcoin can tests this line the next times and as you can see in my chart this line tends to confirm as support and resistance therefore here is a higher likelihood given that the line confirms as resistance, this does not mean bitcoin can not transfer into the bullish state of the channel but this can mean that bitcoin shows up with a pull-back or a consolidation here before moving finally above the equilibrium line into the bullish state, what is also possible that bitcoin firstly tests the yellow lower boundary before moving up again.

Outlooks:
Since bitcoin is in the transition phase and in the equilibrium channel coming together with other technical factors a break above the equilibrium line will move bitcoin into the bullish state where it will test the upper boundary of the equilibrium channel and has some good potential to move above this, as history showed when bitcoin moved into the bullish extension state there was always an ongoing growth in price to the boundary of the bullish extension and finally into the overbought area which was also the point in 2013 and 2017 bull market. Remember that it is important for bitcoin to move into the bullish state and confirm above the green line before moving onto the next states. When bitcoin tests the green equilibrium line and consolidates there it will give a solid potential to move into the bullish state further otherwise bitcoin needs to hold the grey trendline and the lower boundary of equilibrium channel.

The next times will show how bitcoin will react to the green equilibrium line which can firstly confirm as resistance as I show also with other technical factors in my analysis, it is possible for bitcoin to form a smaller when not bigger pull-back the next times to test the grey trendline seen in my chart and the lower boundary of the equilibrium, this will be an important point in the structure which need to be held because when moving below the boundary into bearish extension this increases the possibility to the downside, nevertheless, bitcoin has still remaining strong supports in this range and coming up together a bullish continuation is more possible than a bearish, the next times will show how big a pullback can look like to confirm the lower boundary of equilibrium channel to finally move ahead above the green equilibrium line which will give a strong signal as mentioned in bitcoins ongoing developments.

In this manner, thank you for watching, support for more market insight, all the best!
"Chronicles manifest the most reliable data in determining destiny."

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