BITCOIN, About To Finalize Main Bearish-Reversal Double-Top!

Hello,

Welcome to this analysis about BITCOIN and the 45-minute timeframe perspectives. As already mentioned in previous analysis Bitcoin prepared for a local bearish reversal in the structure with firstly an initial head-shoulder-formation which protracted now and a next formation has been formed as I discovered, this can happen when the actual formational structure extends, in any case, the local bearish perspective is as for now omnipresent and therefore it is necessary to rightly amplify it before moving into the wrong direction or rushing into trades that do not satisfy. As when looking at my chart now we can watch there how Bitcoin severely failed to form new highs at the 46600 USD level and two times heavily pulled back. to mark below the 100-MA marked in my chart in green, this 100-MA was a very pivotal reference-factor holding the whole bullishness to the upside, the fact that this MA is now taken out by Bitcoins bearishness gives the structure a bearish edge. Furthermore, Bitcoin is now forming this main double-top-formation with the dynamic-neckline marked in my chart in blue, Bitcoin recently closed below this neckline and is now setting up for the high likelihood bearish continuation. The main double-top-target-zone is within the 43000 USD level marked in my chart in blue, once this level has been reached the situation needs to be elevated anew in terms of Bitcoin holding the level and stabilizing above or setting up for further continuations, it will be an important development ahead.

In this manner, thank you for watching my analysis about BITCOIN and the main double-top-formation with the upcoming destinies important to consider, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.