Welcome to this analysis about Bitcoin , we are looking at the 12-hour timeframe perspective, the recent events, the formational structures, and what scenarios we can expect in the upcoming times. As Bitcoin stopped with its uptrend and showed up with an initial pullback that should not be underestimated I discovered a decisive formation Bitcoin is forming now which will show the further conclusions under the upcoming given conditions and individual scenarios to consider, therefore it is from high importance to elevate the further developments finally coming to the right conclusions, in this case, I detected all the important levels and likely destinies we should consider now.
As when looking at my chart we can watch there how Bitcoin initiated this bearishness moving into the established formational edge and important here is that Bitcoin broke below this long-lasting ascending-trend-line marked in blue, furthermore, we see how Bitcoin already bounced within the 31.000 USD and marked it as support. Together with the lower support in the 31.000 USD and this descending-trend-line marked in black in my chart Bitcoin is now developing this major triangular-cluster-formation marked in orange in my chart from where the next decisions will occur and either one of the given scenarios shown in my chart showing up, therefore, it is important to keep patient for the right confirmations before moving in the final direction.
Bitcoin is in a situation where it will show the final decision of either scenario A or B completing the next times within the major decision-zone marked in my chart, because Bitcoin has still more or less strong support within this area the scenario has a slightly higher possibility to show up in comparison to the one nevertheless it is inevitable to elevate the proper price-action to show up, therefore, when Bitcoin manages to bounce strongly in this decision-zone the breakout above the trendline can be expected it will all depend on how the reaction within this level will be and how Bitcoin moves on then, it will be an interesting development ahead.
In this manner, thank you for watching the analysis, have a good day, and of course good trading, all the best!
"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 markets.
Vince25 -> 25% trading fee discount
Vince50 -> +50% welcome bonus on first deposit