Welcome to this update-analysis about Bitcoin, we are looking at the 4-hour timeframe perspectives. Since the origin-analysis Bitcoin continued with the wave-count within the triangle formation and almost completed it with the finalization of wave E. Now Bitcoin is building up in the structure and recently already moved above this descending-trend-line marked dashed, when Bitcoin now manages to continue to hold this zone and show up with further stabilization above this can lead to the final breakout and continuation above as marked in my chart, therefore it is highly necessary that Bitcoin does not fall below the orange supports as this will possibly invalidate the whole formation, it will be an important development ahead.
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.
@BitcoinMillio18, Wyckoff isn't right here - wyckoff requires high volume at the top - we didn't see high volume... not sure why so many in Cryptosphere took up wyckoff all of a sudden - whales are playing games on the chart with you
TradingZzone
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Seems to me like a Bear Pennant formation
VincePrince
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@ECRYPTOS, Thanks for sharing, an interesting view.