BTC, Huge Global ASCENDING-WEDGE Indicates DECADE-REVERSAL!

Hello,

Welcome to this analysis about Bitcoin, we are looking at the global 4-day timeframe perspectives. In recent years Bitcoin established an ongoing bull-market with continuations of higher highs in the structure, Bitcoin even managed to recover from the heavy corona-crash-breakdowns we have seen by March 2021 in a profound and unforeseeable manner. Nevertheless, we should not underestimate the continuous threats that Bitcoin needs to defend against, from the regulatory insanity that many governments want to push through to the constant disinformation campaigns against Bitcoin, therefore although Bitcoin managed to continue with higher highs in the past we should not keep a bearish perspective out of sight especially as indications are showing it as I recently developed, therefore, in this analysis I look realistically on this situation and what we should expect in the upcoming times with the crucial developments.

As when looking at my chart we can see there how Bitcoin is since it moved on with higher highs and the bull-market that had its origins in the 2018 bear-market-bottom is now forming this massive ascending-wedge-formation with the coherent wave-count in the formation and the waves A to D almost completed. Now as Bitcoin bounced in the lower-boundary matching with the 15-EMA in green and the 65-EMA in red again this is the origin of the wave E to the upside which will finalize the whole wave-count and complete this paramount formation when Bitcoin moves into the upper confirmed cup-and-handle-target-zone this is likely to result in a pull-back also because of this overbought condition which will be omnipresent then. Besides that, a crucial development is also seen with the MACD which is actually forming a bearish-divergence as the price-action formed higher highs and the MACD lower highs. Taking all these factors into account here we should in any case do not keep the bearish perspective out of sight and be prepared on potential upcoming volatilities which will lead to Bitcoin reaching out to the target-zone from where the situation needs to be elevated anew.

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"The high destiny of the market is to explicate, rather than to speculate."

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