This Can Bring Bitcoin Initially Out Of The Double-Mill!

Hi,

Welcome to this analysis about Bitcoin, we are looking at the 6-hour timeframe perspectives. Since the bearish breakdowns accelerated and moved into the 30000 USD level the bearishness has decreased and the trend slowed down with some interesting measurements so far. As I discovered Bitcoin is developing a significant descending-triangle-formation with the coherent wave-count within and the waves A to D almost already completed, with the wave B turned into a bear-flag and the wave D a triangle which is not unlikely in such a constellation. When Bitcoin now manages to complete the wave E with less increased dynamic and confirm the lower boundary as support this can lead to a dedicated breakout and completion of the descending-triangle, this can lead to an initial rally however does not mean Bitcoin is completely out of the woods as there is this main resistance-zone to be tested marked in red in my chart from where a pullback is not unlikely, it has to be elevated then how Bitcoin develops further in this case, for now, the still underlying bearish perspectives should not be kept by side nevertheless the formation can lead to the first momentum in bullish strength.

In this manner, thank you for watching the analysis and 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 market.