Bitcoin, Bear-Flag-Formation, These Are Perspectives!

31 янв. 2021 г.

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 45-minute timeframe perspective. Since Bitcoin has shown up with strong volatility to the upside, this happened to result in a curious pullback with Bitcoin testing previous support anew, for now the bearish scenario is still omnipresent and we should not come to the conclusion to overspeculate the market as it is happening to often these days just feeding the market makers and smart money operators, when trading we should always trade what we see not what we think and also very very importantly also prepare for the reverse perspective when the market changes and trend alterations begin which is not unlikely seen within todays markets like the cryptocurrency market.

When looking at my chart we can watch there how Bitcoin has now formed this channel-formation in the structure marked in blue in my chart, this is the point in which Bitcoin is testing the previous supports and it resulted out of this initial impulse to the downside, what is important here is that Bitcoin already completed its wave-count within the formation and therefore is likely to show up with a breakout of the formation upcoming next times. When this breakout closes below the lower boundary as it is marked in my chart it will lie ground for the second major impulse to the downside pointing to the targets seen in my chart, after this has happened the situation needs to be elevated anew and it needs to be shown how Bitcoin continues further.

In this manner, my friends, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, 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.