Bitcoin, Developed Channel-Formation, Important Scenarios!

12. März 2021

Hello Traders investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Recently Bitcoin managed to back-up from its heavy bearish downside volatility and formed some initial up-moves testing the previous all-time-high-condition-resistance, now in this case I discovered interesting signs that can indicate a potential breakout above the all-time-high-condition-resistance and further determinations in the new all-time-high-regions, therefore I detected all the important levels and likely destinies we should consider with Bitcoin in the established structure and upcoming movements ahead next times.

Structural Developments:
As when looking at my chart now we can watch there how Bitcoin is moving within this major ascending-channel-formation marked with the boundaries in blue, furthermore Bitcoin has the coherent wave-count within the formation and almost already completed the waves A to C in the structure with the wave D about to develop now in the next times, this wave D will move on and test the lower levels of support with the back-up-cluster lying there marked in my chart in blue, this is a very important cluster to hold for Bitcoin and bounce to the upside when considering the sufficient origin of wave E otherwise when this does not happen and Bitcoin increases with bearish-pressure the bullish dynamic can also be invalidated below the lower-boundary as shown.

Upcoming Perspectives:
Taking all these factors into the consideration now Bitcoin is in a situation in which it developed some worthwhile price-action, now it is the times to validate these price-actions and form a continuation, when Bitcoin properly manages to bounce within the back-up-cluster as suggested this will move on to test the main all-time-high-condition-resistance again and when Bitcoin then finally manages a breakout above and stabilization above the resistance such a price-action will indicate the wave E to develop further ahead, the main zone to be approached then will be the wave-E-determination-zone from where the situation needs to be elevated anew as a bearish pullback is likely in this case it will be an important determination.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.