Bitcoin, Is Forming Main Broadening-Wedge, Important Scenarios!

20 mar 2021

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin, we are looking at the 45-minute timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Bitcoin since some time now is moving in somewhat of an indecisive zone in which it is looking for a proper trend to align, in such situations, it is necessary to keep properly patient and do not just rush into trades that do not satisfy, it is necessary to look for the proper signs to develop before finally moving into one direction, in this case now I discovered the main formation that will show up with the decisive factors within the next times, therefore I detected all the important levels and likely destinies we should consider.

Structural Developments:
As when looking at my chart now we can watch there how Bitcoin is forming this main broadening-wedge-formation marked with the boundaries in blue, within this formation Bitcoin has already completed the ABC-wave-count that can be the finalization of the wave-count however there is also the possibility to protract this wave-count with an additional wave D and then the wave E that will run into higher levels anew otherwise when this does not happen and Bitcoin increases with bearishness further it will mark the completion of the main broadening-wedge bearishly to the downside which will lead Bitcoin to approach lower levels, such a confirmation can also happen after Bitcoin moves on with the additional waves D and E.

Upcoming Determinations:
Taking all these factors into consideration now it will be important the next times explicitly on how Bitcoin approaches the decisive lower boundary and how it reacts to it, when there comes a solid bullish bounce within the boundary this will lead to the final wave E to develop when Bitcoin emerges above the descending-resistance-line as it is shown in my chart otherwise when Bitcoin does not shows up with such a bounce the whole formation will complete bearishly when Bitcoin finally closes below the lower boundary, in this case, the lower levels of support will be pointed to test, these are the major scenarios important to elevate in the upcoming times to get the proper factors adding into the circumstances.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.