Bitcoin, Develops Channel-Formation, Potential Scenarios!

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 30-minute timeframe perspectives, the recent events, the established formational structure, and what scenarios we can expect in the upcoming times. Bitcoin since initially pulling back from the upper-resistance somewhat found supports within the 47.200 USD level from where it has shown up with some up moves, now, in this case, I discovered an interesting formational structure Bitcoin is forming that will determine the upcoming movements, it is important to note that the bearish perspective is not out of sight and that Bitcoin has still higher possibilities for pullbacks given, therefore I detected all the important levels and likely destinies we should consider.

Structural Developments:
As when looking at my chart we can watch there Bitcoin is forming this main ascending-channel-formation within the structure marked in blue within the chart, furthermore, Bitcoin is developing this coherent wave-count within the formation already completing waves A to C in the structure and now with the determination of the wave C that moved into the upper-boundary which is still resistance Bitcoin is likely to show up with the wave D from that level, the wave D will move into the lower-boundary and the supports lying there from where the wave E will likely have its origins. When this final wave emerges it will complete the whole wave-count either within the channel or with the E-wave-extension as it is shown.

Upcoming Determinations:
Taking all these factors into consideration Bitcoins bearish pullback-possibility is still given, in this purpose it will be important to elevate if Bitcoin firstly shows up with the E-wave-extension before or finalizes the wave-count within the channel to show up with a breakout below the lower boundary of the channel which will complete it as a bear-flag, these two scenarios are given and upcoming. When Bitcoin shows up with the more likely bearish pullbacks upcoming times these pullbacks will protract and continue till there is support found in which Bitcoin has the ability given to back-up and stabilization moving forward to test remaining resistances again, the lower-support marked in my chart will be a considerable place for recovery.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.