Bitcoin, In Flag-Formation, How It Completes In The Schedule!

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 30-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin on the more global perspectives has still some important bearish edges which should not be underestimated at this point and now I discovered an important formation in the short-term that can lie determining ground in the upcoming outcomes especially firstly on the local timeframe perspective this can also provide a possible opportunity, therefore I detected all the important levels and likely outcomes we should consider with Bitcoins established structure and the upcoming movements ahead.

Structural Developments
As when looking at my chart we can watch there how Bitcoin is now trading in this ascending-channel-formation marked in my chart with the blue boundaries, furthermore Bitcoin has established this coherent wave-count within the formation already completing waves A and B within the schedule and now setting up to form the wave C with the origin within the lower boundary, this wave C will directly run into the major resistance-cluster marked in my chart in red where several resistances coming together consisting of the 500-EMA in red, the upper-boundary-resistance and also the horizontal Fibonacci-resistance all together forming this strong resistance-layer in which Bitcoin is likely to show up with a bearish pullback when moving into it.

Upcoming Perspectives:
Taking all these factors into consideration Bitcoin will complete the ascending-channel as a bear-flag when closing below the lower-boundary as it is marked in my chart, such price-action will lie ground for further continuations and will also activate the downside targets marked in my chart in blue at the 29200 levels. This whole mechanism can be traded either aggressively with the immediate entry within the channel or conservative with entry after the final confirmation has shown up, although the aggressive entry is also possible the conservative will be much better as it will point to the final setup. After Bitcoin reached the downside targets it has to be elevated if there comes a potentials recovery or further declines follow up.

In this manner, thank you for watching the analysis, have a good day, great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."

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