Bitcoin, Massive Triangle-Formation, Upcoming Determinations!
Hello Traders Investors And Community,
Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. As already mentioned in the former analysis Bitcoin managed the breakout above the upper boundary of its descending channel and is now setting up for a continuation in this manner above the descending dashed trend lines seen in my chart. Taking this into consideration Bitcoin will form the major wave B in the structure that will run directly into the remaining upper-resistance cluster marked in blue from where a pullback is highly likely and should be expected. This pullback then will be the origin of wave C in the wave-count finalizing it and moving into the lower decision-cluster marked in orange from where the final conclusions will show up either with a bullish or bearish breakout. For now, the bullish breakout has a higher possibility of 65% compared to the bearish however it is necessary to elevate how Bitcoin develops further here before rushing into final terminations as the possibilities can change also again.
In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day, and all the best to you!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. As already mentioned in the former analysis Bitcoin managed the breakout above the upper boundary of its descending channel and is now setting up for a continuation in this manner above the descending dashed trend lines seen in my chart. Taking this into consideration Bitcoin will form the major wave B in the structure that will run directly into the remaining upper-resistance cluster marked in blue from where a pullback is highly likely and should be expected. This pullback then will be the origin of wave C in the wave-count finalizing it and moving into the lower decision-cluster marked in orange from where the final conclusions will show up either with a bullish or bearish breakout. For now, the bullish breakout has a higher possibility of 65% compared to the bearish however it is necessary to elevate how Bitcoin develops further here before rushing into final terminations as the possibilities can change also again.
In this manner, thank you everybody for watching, support the idea with a like and follow or comment, have a good day, and all the best to you!
"There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
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