Bitcoin, Ascending-Triangle, These Levels Are Important!

Hello,

Welcome to this analysis about Bitcoin and the 45-minute timeframe perspectives. In recent times Bitcoin moved on with bullish encounters and formed the highest weekly close in Bitcoin history reaching near the all-time-high region nevertheless as I discovered now there is an important formation forming as I discovered that should not be underestimated here as it can indicate a initial important reversal moving in. Therefore as when looking at my chart we can watch there how Bitcoin is now forming this main ascending-triangle-formation above the 15-EMA which is marked in red in my chart. In this formation, Bitcoin has the coherent wave-count reaching from A to E almost already completed and this whole formation will finally finalize once Bitcoin breaks out below the lower boundary of the triangle as it is marked in my chart, once this happened it will be the origin for further bearish continuations to the downside and Bitcoin will have firstly activated the 59600 Usd level marked in blue as a target-zone. It will be important how Bitcoin moves into this zone when the formation completed, when it is a strong bearish move with high volatility a bearish continuation should not be kept from the desk. Therefore we need to be prepared on potential increasing bearish price-actions to take appropriate action when it shows up, it will be an important development ahead.

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