BTC, BEARISH PRESSURE Increased, BEAR-FLAG To Complete!

Hello,

Welcome to this analysis about Bitcoin and the 4-hour timeframe perspectives. Great to see our short-position we entered in Bitcoin at 47300 USD moved into worthwhile profit-zones as the bearish price-action for Bitcoin increased recently, we also secured our profits in Ethereum and XRP and now it seems like there is further bearish potential given as the market conditions altered into a more bearish interface. Although it is not a good entry here I detected that Bitcoin has a high possibility to continue with the recent developments according to the market conditions that have changed, this is always necessary as I mentioned it already severely, we always wait on the proper validations before coming to further conclusions rather than overspeculate the market into a one-sighted direction. The market is constantly changing, especially in cryptocurrency which keeps being volatile, therefore it is central for sophisticated trading to prepare on the changing dynamics which is a significant philosophy that we also apply successfully in our channels, therefore I discovered the important formational structures and upcoming determinations.

Looking at my chart now we can watch there Bitcoin has developed this massive channel-formation which now turns out as a bear-flag as Bitcoin completed the initial ABC-wave-count in the channel and what is important here is the bearish pressure with which Bitcoin showed up recently after pulling back off the upper-boundary which is actually an indication for continuations. Also, Bitcoin is now penetrating the lower-boundary and the crucial 500-EMA lying there marked in grey in my chart which is the last wall before the bear-flag-formation finally completes which will happen when Bitcoin pulls back below the lower boundary as it is seen in my chart, such a dynamic will indicate the further bearish continuations to establish and Bitcoin increasing bearish price-action. When this happened the main initial target-zone is between the 39650 and 40600 USD level from where the conditions need to be elevated anew. It is possible that Bitcoin creates a new bearish formation once the initial zones are reached, therefore it is important how Bitcoin reacts to these, it will be an important development.

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!
"Good fortune is when opportunity meets preparation."

Information provided is only educational and should not be used to take action in the markets.