Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. In recent times Bitcoin has shown up with important volatile movements in the structure and when considering the fundamental news they are equally volatile reaching from bullish developments such as the Bitcoin ETFs finally approving to bearish determinations such as regulatory issues taking place and accelerating. In this case, now I discovered the main formation Bitcoin is forming that will be a pivotal driver of the upcoming determinations, especially when it completes it will be an origin of a strong breakout and increased volatility, therefore, I discovered all the central developments, structural formations, and upcoming determinations.
As when looking at my chart now we can watch there how Bitcoin is recently testing the 20-EMA in green and the 65-EMA in red again below which Bitcoin already pulled back several times previously. Besides that we can see the major formation forming here that I have marked with the blue boundaries, which is a massive broadening-wedge-formation with the coherent wave-count in the wedge and the waves A to D almost already completed. As Bitcoin is now about to finish the wave D in the structure there is an important head-and-shoulder-formation forming with the end of this wave D. In the next times it is likely that this head-and-shoulder-formation completes and points to the origin of the wave E that finalizes the whole wave-count.
Taking all these factors into the consideration now we should be prepared for upcoming bearish encounters especially when this head-and-shoulder-formation completes in the structure and Bitcoin moves on with the bearish determinations this will lead to the testing of the lower support levels that can convert into an appropriate back-up-zone when Bitcoin manages to bounce within as the whole wave-count has been completed then. Once this happened and Bitcoin manages to continue with a bullish demand increase this can lead to the completion of this whole formation when Bitcoin closes above the upper boundary activating further bullish continuations and upside-targets. For now, we should not keep the immediate short-term bearish-determinations from the desk to be prepared on it and look on how Bitcoin approaches the main targets to move on with the suggested development further, it will be a crucial determination.
In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, 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 markets.
Lmao bro you flip flop so much. Your last 2 ideas/predictions are like the opposite of this
Khobi7
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@Alphabigmoneytrade, As an analyst, we react to what the chart tells us. Nobody is a god, or has to be right most of the time, its about predicting for the possible outcome, read and observe, everyone could pin point the top and bottom of where it could possibly reach, but the truth is, when?? how long would it take to reach there? So enjoy the ride, with less judgement. If this irritate ya, unfollow our Prince, show some respect to the Prince.
@Khobi7, you are right but most of the BTC authors here just do it of the likes and comments. You can't just post totally different ideas literally every day. Marked don't change that much for 12-24 hours
@Alphabigmoneytrade, LOL, welcome to Trading View, the grand master of flip flop was Magicpoop. We all miss his incredible predictions of Bitcoin collapsing to 2K or going to 100K overnight. The best bet was to trade against anything Poop said and you would win nearly every time