Bitcoin, Builds Triangle-Formation, Setup For A Breakout!

7 maj 2021

Hi,

Welcome to this analysis about Bitcoin, we are looking at the hourly timeframe perspectives. As Bitcoin in recent times managed to initially bounce in the structure it is now about to build up and as I discovered now Bitcoin is building this major descending-triangle-formation marked in my chart in orange with the coherent wave-count within the triangle which already almost completed. Now when Bitcoin manages the breakout above the boundary in the next times as shown in my chart this will complete the whole formation bullishly to the upside and will be the set-up for the further continuation as well as the wave-C-development, Bitcoin then will have a good potential to move on and test the 60.000 USD level, it will be an interesting development.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Good luck is when opportunity meets preparation."

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