Bitcoin, Builds Potential Next Flag-Formation, Important Zones!

12. Feb. 2021

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 30-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin recently has made fundamentally important moves as it established the breakout above its previous trading-range and marked above the 45.000 USD level, this was a serious step that needs the proper conclusions to further validate, besides that Bitcoin also already formed a bull-flag-formation in the structure that completed and as I discovered Bitcoin is forming a similar formation right now, therefore I detected all the important levels and likely outcomes we should consider here.

As when looking at my chart now we can watch there how Bitcoin has and fully completed this bull-flag-formation within the structure and has shown up with the breakout to test the 49.000 USD level, from where it firstly pulled back to the downside and is now about to develop a second important potential ascending-bull-flag-formation that is marked in black within my chart with the coherent wave-count within the formation already completing waves A to C in the structure and now as Bitcoin is approaching strong supports lying within the lower boundary and the supports coming into there the wave-count is likely to continue with the wave D in the structure that will move on to test the upper-boundary from where the final wave E has good potentials to originate.

Taking all these factors into consideration Bitcoin has developed an important second formation that can show up with great potentials when it completes and especially has the ability to mark above the 50.000 USD level which is really a milestone for Bitcoin imagining that this is 10x of the price Bitcoin had one year ago. Taking these factors into account the next major wave C will show up when Bitcoin finally moves above the upper-boundary as marked in my chart, after this is done it has to be elevated how Bitcoin continues after the wave C has formed within the structure, for now, Bitcoin has formed a strong pace on the local perspective as well as on the global, it will be an exciting journey further.

In this manner, thank you for watching the analysis, many thanks for everybody supporting, have a good time and trading, all the best!
"The high destiny of the market is to explicate rather than to speculate."

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