B-Cash, Descending-Channel, Potential Bull-Flag When Completed!

31 ago 2021

Hello,

Welcome to this analysis about Bitcoin Cash, we are looking at the 4-hour timeframe perspectives. In recent times Bitcoin Cash has developed an interesting structure and especially with the formation I discovered here will have the ability to increase volatility and complete the formation with a substantial breakout, therefore it is necessary that Bitcoin Cash on the way shows up with the proper price-actions and does not move forward with developments that can invalidate the formation again, when this does not happen and Bitcoin Cash rightly finalizes the whole structure appropriately this can be the origin for great determinations, therefore I discovered all the important levels and upcoming determinations.

Structural Developments:
As when looking at my chart now we can watch there how Bitcoin Cash has emerged with this major descending-channel-formation marked in my chart with the black boundaries, within this formation Bitcoin Cash has established a coherent wave-count with the waves A to D already completed, now Bitcoin Cash is about to form the wave E in the structure and as marked in orange in my chart there is this local bear-pennant-formation that is building the local wave-B in the wave-count to the downside. When this local bear-pennant has been completed this will lead to Bitcoin Cash further increasing bearish price-action and continue with the wave-E-development till the lower levels are reached and the wave-count finalized.

Upcoming Determinations:
Once the wave-count has been finalized this will happen within the lower dynamic-support-and-target-zone marked in my chart in blue, there is a high likelihood given that when Bitcoin Cash reaches this zone a bounce within this structure will emerge as firstly the wave-count will be finished and secondly the substantial supports are given. When Bitcoin Cash manages to bounce appropriately within this structure and increase bullishness in a way that it finally completes a potential breakout above the upper-boundary of this whole channel it will be the setup for further continuations to the upside as the channel-formation will be completed as a bull-flag, it will be an interesting journey ahead.

In this manner, thank you for watching my analysis about BITCOIN CASH and the descending-channel-formation with the potential to complete as a bull-flag, 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.