Bitcoin, Developments In The Potential Flag-Formation!

Hello Traders Investors And Community,

Welcome to this update-analysis about Bitcoin, we are looking at the 6-hour timeframe perspective, the recent events, the established formational structure, and what we can expect within the upcoming times. Since the previous origin-analysis Bitcoin has moved on with the development of wave D within the wave-count and finally pulled back of the upper boundary to emerge within the wave E in the schedule, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview as this analysis is building coherently upon it, therefore I detected all the important levels and likely outcomes we should consider within Bitcoins established structure and the upcoming movements ahead.

Structural Establishments:
As when looking at my chart we can watch there how Bitcoin finalized the wave D in the structure and pulled back from the upper-boundary to continue with the establishment of wave E where the bearishness, for now, gets somewhat slower nevertheless it should not be underestimated as it can also increase again. For is also important in this alignment is the local support/resistance-line marked in my chart with the dashed trendlines which build a major reference point for the bullishness here and when this is broken to the downside the wave E developments are likely to protract and move on to test lower levels as marked where the potential recovery and back-up can take place and also the possible origin for an upside-breakout.

Upcoming Perspectives:
Taking all these factors into consideration Bitcoin is in full stag of the wave-development and next times will be crucial, when Bitcoin finally moves below the local support/resistance-line the protraction of the wave E is likely to take place otherwise when Bitcoin manages to stay somewhat above the line this can indicate a potential early breakout and confirmation of the bull-flag which is not the most likely scenario for now, in any case, the bull-flag-confirmation is highly likely and should be expected sooner or later as Bitcoin showed already up with the attempts to fully complete a breakout this is the expectation we should keep on the side, nevertheless it is important to wait on the proper validations, it will be an interesting development.

In this manner, my friends, 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.