BITCOIN: Massive Short-Term-Volatility, Important Levels!

Wait 5 sec.

BITCOIN: Massive Short-Term-Volatility, Important Levels!BitcoinCRYPTO:BTCUSDVincePrinceHello Community, welcome to my new analysis of Bitcoin from a 4-hour timeframe perspective. In recent times, BITCOIN has shown massive short-term volatility, which is marking some important developments and upcoming considerations. Therefore, I have identified all the underlying factors necessary to consider here. When looking at my chart, we can see how the recent CPI inflation was the trigger for the short-term pump in BITCOIN, directly moving into the local resistances. BITCOIN has a major resistance within the 100-MA and also within the descending resistance line. Therefore, it is a high-likelihood bull trap that BITCOIN has developed here. Taking all these factors together into consideration, BITCOIN is forming this major double top formation. A breakdown below the neckline is going to confirm it and activate the lower targets. There is, however, still the possibility that BITCOIN stabilizes at these levels when it manages to bounce in the 73,000 zone. If BITCOIN should drop below this level, a bearish continuation could also be possible. In this manner, thank you a lot for watching! The support is highly appreciated. VP