Bitcoin, Wedge-Completion Built Ground For Further Continuation!

Hello Traders Investors And Community,

Welcome to this important update-analysis in which we are looking at Bitcoins 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. As mentioned in previous analysis Bitcoin has formed this major decisive ascending-wedge-formation below several important bearish resistances and as suggested the bearish wedge-confirmation was more likely and should have been expected which now finally happened in the schedule as Bitcoin made the breakout below the lower boundary, if you did not see this analysis I highly recommend to watch it to have a full-depth-overview as this one is building a coherent follow-up to the previous, therefore I detected all the important levels and likely destinies we should consider now.

Structural Developments:
As when looking at my chart we can watch there how Bitcoin finalized this ascending-wedge-formation mainly in the schedule and already moved into the 300-EMA in green from where it now initial marginally bounced to the upside, also Bitcoin moved into the ascending-wedge-confirmation-range which is a bearish range here and Bitcoin has still serious resistances lying above in the structure which when touched will likely show up with a bearish pullback to the downside, this is also what is possible here within the next times and should not be underestimated as Bitcoin has shown up with this bearish edge it is more likely that the pullback shows up rather than Bitcoin rightly moving above the descending-resistance-line and forming a new bullish paradigm.

Main Considerations:
Taking all these factors into consideration it is important to note here that Bitcoin has established these serious bearish signs that in any way can not be taken by the side, in the channel we already prepared long before this happened as we executed the first short 8th of January and managed to hedge accordingly during this time till today also. It shows one more time that the cryptocurrency market is a very volatile market with many ups and downs confirmed in the past and omnipresent in the present, this is why we should be prepared on such changes as sophisticated traders in direction to do not lie open food for market makers and smart money operators because this is the essence, especially in the volatile cryptocurrency market place.

In this manner, thank you for watching the analysis, have a good day and good trading, its a great contentment for everybody supporting, all the best!
"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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