BITCOIN, Local Bull-Flag, Initial Continuation-Determinations!

28 sie 2021

Hello,

Welcome to this analysis about Bitcoin and its 45-minute local timeframe perspectives. As I discovered recently Bitcoin is forming an important constellation here with upcoming volatilities that should be considered in the schedule especially as Bitcoin completes this main formation in the structure. As when looking at my chart now we can watch there how Bitcoin established this main bull-flag-formation marked with the boundaries in blue. This bull-flag-formation is building the main wave B in the structure and is consisting itself of a wave-count reaching from A to C with these waves already completed. As Bitcoin now emerged with the breakout above the upper-boundary of the bull-flag this is marking the appropriate setup for further continuations to the upside and has activated the bull-flag-targt-zone, therefore it is likely that Bitcoin continues bullishly from here to reach the target-zone which is simultaneously a main remaining resistance, this is why it is more likely that when Bitcoin reaches this zone there comes a pullback as the resistance is still omnipresent, especially in this constellation it does not mean Bitcoin is completely bullish therefore it has to be elevated how Bitcoin remains after pulling back from the upper target and resistance zones, possible is a stabilization in the structure from where Bitcoin can build up further, however, a bearish continuation with increase bearish pressure to the downside should also not be kept from the desk, it will be an important development ahead.

In this manner, thank you for watching my analysis about BITCOIN and the main local bull-flag-structure with the upcoming bullish developments to consider, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.