The Hidden Force, BITCOIN Approaching Historical Moment!

Hello Traders Investors And Community, welcome to this update-analysis about bitcoins current market situation and where we are going further with the overall movement and its price-action-mechanism. In my observations, I found some highly important and fundamental technical signs which can indicate a bearish reversal with a ongoing continuational breakdown similar to the pattern we have seen originating in February this year and providing heavy bearish breakdown after touching the 10.000, for now, we see similar signals in this range that can provide a historical step in bitcoin and that can affect the price-action meaningful the next months ahead, therefore we are looking at the daily timeframe and also on the locally 4-hour timeframe to enlight a better perspective on the details and nuances in the past formation and similarity to the current one.

Alright, when looking at my analysis you can see that bitcoin is trading in a huge and long rising channel which is marked in light-blue, this channel is actually similar when not highly identical to the first rising channel which stopped at the 10.000 USD mark before breaking down and providing this heavy down-move. What is of high importance now is that we see exactly a similar formation to the first reversal in the rising channel, this formation consists of two initial lower highs (in the channel) and one final lower high (outside the channel). Bitcoin already formed the two initial lower highs in the second channel right now and already confirmed outside the rising channel which can give an indication for the third and final lower high in the structure which will confirm the formation and lead to a similar breakout seen before.

First Lower High Formation (Inside The Channel + Outside The Channel):

Second Lower High Formation (Inside The Channel + Outside The Channel):

What is also amazing is the similarity between the length spend inside the channels, at the first channel it was 63 days and the second channel now confirmed outside on the 73 days. All over this is one more given factor in the high significance of similarity in both formations. The next days we can expect bitcoin to form another lower high in the structure after that it will be critical for bitcoin because when we fall below the 8100 level, which I already mentioned in previous analysis there will be a bearish shape with high possibility, therefore, we should be prepared for this scenario and take the proper action when it happens. I know many people taking the moon into consideration but at the moment the possibility for that scenario decreases because we have this formation moving on and the significant resistance at 10.000, when we confirm the 8100-200 range as solid support, for example, the likelihood for a bullish break increases but when we fall below that level and form another lower high the bearish scenario will confirm in all means available which should be kept in mind.

To succeed in this current market environment we should be aware of the possible breakout and don't get astonished when it happens so we can take the proper action and profit out of the opportunities arising from the situation. When we see the bearish scenario confirming it can be traded on the short-side with targets in the bearish ground zone which you see in my chart, it is the wisest option to wait for confirmation at the moment and prefer the safety of cash than to rush aggressively in the markets. On the bullish side a clear break of the 10.000 with good volatility can be traded conservative after confirmation. The best option we should consider now is to keep patient and have the outlook for the proper confirmation. It is almost always the best option to wait for the right breakout before placing, there is never a hundred percent sure setup, there are always possibilities in the markets which can increase or decrease and traders should take advantage of the highest possible scenarios to trade them rightly which are most often confirmed setups with a clear shape in the direction.

In this manner, thank you everybody for watching my analysis, and feel free to support this will be great.
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Information provided is only educational and should not be used to take action in the markets.