BTC, Major DISTRIBUTION-FRACTAL Finalized, Conclusions AHEAD!

Hello,

Welcome to this Update-Analysis about Bitcoins Major Bearish Distribution-Fractal I spotted in the origin-analysis, if you did not see this analysis already I highly recommend it to watch to have a full-depth-overview. As the fractal now finally completed with the main wave G completing the wave-count I talked about in the origin-analysis with Bitcoin also breaking below the main trend-line and below the 20-MA in blue this was the full completion of this massive fractal exactly with the same developments and elements like within the first fractal just on a more local scale. Now as these determinations developed I discovered further important signs, structural formations, and upcoming determinations that are pivotal in these dynamics.

Taking a look on the major recent news emerged in the last times we can watch there that there is the main discrepancy between the news release which are in a more or less higher majority bullish and the actual price-action Bitcoin developed which included this heavy bearish dump, this is playing into the theory of the divergence in news releases and the misleading of public and the actual Bitcoin price-action-dynamics. As El Salvador emerged as the first country adopting Bitcoin the market crashed on the same date however in the middle-to-long-run this legal tender adoption can lead to an increase in Bitcoin demand as there is a 400 Million US-Dollar wealth transfer likely to happen in El Salvador from classical payment providers such as Western Union into Bitcoin. On the other side, there is news that fueled this heavy bearish pullback to the downside such as China tightening restrictions on Bitcoin or the SEC moving forward with regulatory measurements. These factors contributing to the bearish dynamics Bitcoin showed up with and continued development in the caused actions can even increase further supply in the near future.

When looking at my chart now we can watch there how Bitcoin now recently fully completed the fractal-wave-count and moved below the trendline as well as the 20-MA therefore the whole fractal was completed with highly increased bearish volume as expected. Now as Bitcoin found support above the 43500 USD area there is an increased potential given that Bitcoin has the ability to bounce back and test the 20-MA again however when considering this whole structure the 20-MA is now a strong resistance from where a pullback has an increased likelihood this is why a pullback from this retest is definitely within the possible spectrum, therefore, when Bitcoin does not manage to hold the 43000 USD zone sustainably and further supply enters the market this will lead to a continuation to the downside when Bitcoin breaks this level, when this happens the main fractal target zone will be around the 35500 USD level marked in blue which is also the equivalent of the beginning of wave-B similar as it developed in the first fractal already, then Bitcoin needs to show how it approaches these zones, it will be an important development ahead.

In this manner, thank you for watching my analysis about BITCOIN and its major distribution-fractal compared to the previous and central upcoming determinations to consider, support the analysis with a like and follow or comment for more market insight!
"There are many roads to prosperity, but one must be taken."

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

Comment:

Origin-Analysis: