BITCOIN, Decisive DISTRIBUTION-FRACTAL Develops ONCE AGAIN!

29 ago 2021

Hello,

Welcome to this analysis about Bitcoin, we are looking at the daily timeframe perspectives. As I discovered in my analysis Bitcoin in the last times is developing a decisive fractal that already completed before in a broader scale and as I detected there are exactly the same elements and determinations given that formed before now only in a other perspective, in any case, there is the possibility given for an increase in bearish pressure next times. We all have seen how fastly the market can switch once the final confirmation happened and how these bearish developments can accelerate once higher entities are pressuring Bitcoin such as China blocking Bitcoin miners or bigger companies ending with Bitcoin payments, such events can bundle a trend strength into the bullish or also into the bearish direction especially when combined with the underlying technical factors of which I detected are pivotal with the fractal Bitcoin develops.

Bitcoin Distribution-Fractal Elements And Phases:
A.) Wave-Count-To-Fractal-Completion And Decreasing-Momentum-Cycle:
As when looking at both fractals we can watch there Bitcoin in the first fractal completed this central wave-count-to-fractal-completion with the waves reaching from A to G in the structure till the wave-count finalized and marked the actual reversal with the final fractal-top at the end of wave G. The wave-count formed subsequent higher highs and higher lows till the final breakdown happened and combined with this wave-count there is the decreasing-volatility-cycle marked in red with the volume decreasing more and more the more higher highs formed. The very same movement is now seen with the next distribution-fractal with the waves already finished from A to F and the wave G remaining together with the low-volatility cycle.

B.) Confirmation Elements Reaching From 1.) To 3.):
Combined with the Wave-count-to-completion-cycle and the decreasing-momentum-cycle there are also the confirmation elements serving a pivotal aspect in this whole fractal development. In this case there are the three major confirmations reaching from 1.) to 3.) with first confirmation showing the breakout below the first trendline, the second confirmation showing the breakout below the second trendline together with the breakout below the 20-MA high volatility, and the third confirmation showing the highly increased volatility spike simultaneously with the breakout below the trendline and 20-MA. Bitcoin now in the next fractal already completed the first confirmation and once the cycle has finished the second confirmation is likely to approve.

Upcoming Fractal-Determinations And What We Should Consider:
Now as the next fractal Bitcoin is forming here is already within its final stages there is a high possibility given that the further fractal elements will form in the upcoming times, once the wave G is completed in the wave-count there remains the breakout below the second trendline and the 20-MA on high volatility and together with the increased-volume spike, when these things happen the fractal is technically completed and Bitcoin has increased likelihood to continue bearishly, the main target-zone and also support-zone, in this case, will be within the 35600 level marked in orange from where Bitcoin has potential to stabilize again. For now it is necessary to prepare on upcoming volatilities as there are also other technical factors and fundamentals that are playing into the initial bearish pullback-scenario, technically the main RSI and MACD bearish divergence and fundamentally the increased regulatory pressure that has the ability to decrease again however now is still omnipresent.

In this manner, thank you for watching my analysis about BITCOIN and its major distribution-fractal compared to the previous and central upcoming determinations to consider, support the analysis with a like and follow or comment for more market insight!
"The past, like the future, is indefinite and exists only as a spectrum of possibilities."

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