BITCOIN, CRUCIAL FORMATION Can Be Catalyst For NEXT IMPULSE!

Hello Cryptocurrency Community,

Welcome to this pivotal crucial Bitcoin analysis about the 12-hour timeframe perspectives, the recent events, the current formational structure, and what we should expect in the upcoming times. The main potential inverse head-shoulder-formation that I mentioned in my previous analysis has now been invalidated to the downside and activated scenario 2 for Bitcoin, if you did not see this analysis already I highly recommend watching it as this analysis is coherently building upon it. Therefore as Bitcoin now invalidated this bearish scenario due to the volatility that recently increased the paradigm has shifted and in this case, I detected important formational factors that are important to take into account right now.

Structural Formation And Incoming Determinations:
Looking at my chart we can watch there how Bitcoin since recently increased with bearish volatilities has moved into the crucial 34.400 USD support marked in my chart in blue and has now tested this support, this support was already tested previously and the more often Bitcoin tests this support the weaker it gets. Nevertheless currently on the more local timeframes Bitcoin is also building this broadening-wedge-formation that I will link here, when this formation completes Bitcoin has the ability to breakout and initially move into the remaining resistances where Bitcoin has strong resistances within the 38.600 to 40.000 USD area that is marked in my chart in red, therefore, when Bitcoin reaches out there it will be a highly likely origin of a bearish pullback to the downside.

Upcoming Destinies To Consider:
Taking all these factors into the consideration now when Bitcoin pulls back off the massive bearish-resistance-cluster as marked in my chart this is just one step forward for completing the huge massive bearish indicated descending-triangle-formation that Bitcoin forms here marked in my chart with the coherent wave-count within which will complete when Bitcoin finalizes the wave-E in the triangle and once this happened with Bitcoin breaking below the lower boundary it will activate the bearish continuations and Bitcoin reaching out lower levels, therefore, the 24.500 USD zone as marked in my chart will be a likely target to be reached once this whole formation has been completed, therefore it is highly necessary that we keep patient and prepare on such increased volatilities upcoming.

Local Broadening-Wedge-Formation With The Resistance-Pullback-Scenario Indicated:


In this manner, thank you for watching the analysis, all the best!
"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.