BITCOIN, Major Bull-Flag-Formation, How It Completes!

Hello,

Welcome to this analysis about Bitcoin, we are looking at the 4-day timeframe perspectives. Bitcoin in recent times has developed an important structure on the more middle-to-long-term perspectives as on this basis Bitcoin is still in a condition in which it is searching for a trend however as for now I discovered that this trend has a higher likelihood to be a bullish trend. Especially when considering the main accumulation-phase which Bitcoin almost completed and the growing institutional interest that builds an underlying fundamental base and driving factor of upcoming demand increases. In this case, now I discovered a massive formational structure Bitcoin is forming on this middle-to-long-term perspective and therefore I detected all the pivotal structural formations, elemental factors, and upcoming determinations we should consider in Bitcoins developed movements and upcoming establishments.

Structural Developments:
As when looking at my chart we can watch there how Bitcoin on the 4-day timeframe perspective is in a structure in which it still has this main ascending-trend-line marked in blue in my chart in which Bitcoin already bounced several times in the past, with the recent bounce also off the 100-MA marked in my chart in blue. Since this last bounce occurred Bitcoin heavily increased with bullishness to the upside and testing further levels of resistance within the structure. Now on the broader perspective Bitcoin is forming this main dynamic bull-flag-formation marked in orange in my chart. As Bitcoin already showed increased bullish dynamics within this formation there is a real possibility that this formation will be completed sooner or later, therefore it is highly necessary that Bitcoin rightly builds up with bullishness in the structure to properly complete this whole formation.

Upcoming Determinations:
Taking all these factors into the consideration now Bitcoin is in a structure in which it has formed this great formation. Now it is important that the bullishness rightly builds up, therefore we should consider pullbacks into the remaining support-zones as it is marked in my chart with Bitcoin approaching the 65-EMA marked in red and the structure support-cluster Bitcoin has built up there consisting of the ascending-trend-line in blue, the 65-EMA and also the 100-MA in blue. Once Bitcoin is pulled back into these zones it will be significant that Bitcoin rightly confirms them as support and does not increase with bearish pressure to move below this cluster because this will invalidate the formation and the bullishness incoming. Once this happened and Bitcoin managed to bounce within this zone to continue bullishly a completion of the whole formation and activation of targets will happen with Bitcoin bouncing above the upper-boundary.

In this manner, thank you for watching my analysis about BITCOIN and the major Bull-Flag-Formation with the meaningful considerations on how the formation completes, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.