BYBIT:BTCUSD   Bitcoin / U.S. Dollar

Bitcoin has properly completed the main bull-flag-formation and the major massive cup-and-handle-formation in the structure. Bitcoin is now holding solidly above the upper-boundary of the bull-flag and Bitcoin is validating this by staying above the neckline of the paramount cup-handle-formation that completed greatly with the breakout above the neckline, if you did not see these analysis already I highly recommend them to watch to have a full-depth-overview. Now in this structure I discovered important establishments Bitcoin is now developing on the daily timeframe perspectives with a possible accelerating breakout to a new all-time-high-condition incoming.

Therefore as when looking at my chart we can watch there that Bitcoin has formed this major huge ascending-channel-formation with the coherent ABC-wave-count within and the local bull-flag recently completed. Bitcoin now moved into a bullish-transition-zone where it is holding above the local bull-flag and preparing to form the further continuation bullish-breakout when demand increases in the near future this is a likely scenario to be expected. When Bitcoin then bounces above the upper-boundary of the ascending-channel it will be the great setup from where Bitcoin merges higher to form the final all-time-high with the wave-C-extension as shown in my chart.

Bitcoin is also strongly holding above the 55-EMA in black and the 20-EMA in red which are great supports here, therefore when Bitcoin should pullback these will be the first supports where Bitcoin will likely bounce and continue the dynamics. Once the breakout above the upper-boundary has emerged this will activate upside-targets and technically they are in the 80.000 Usd area. As we see now it is always pivotally necessary to always keep patient in the market and wait for the right confirmations rather than overspeculating the market as it is seen to often these times, it is necessary to have a roadmap to hold against smart money operators and market makers omnipresent in this market.

In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, 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.
Comment: Analysis Completed Bull-Flag-Formation:
Comment: Analysis Major Completed Global Cup-And-Handle-Formation:

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