BTC, Potential To Complete This FLAG-FORMATION-FRACTAL Anew!

18 nov. 2021Hello,

Welcome to this analysis about Bitcoin, we are looking at the 12-hour timeframe perspectives. In the recent times since Bitcoin formed this major decisive bear-trap above the all-time-high and we have seen the rigged-bitcoin-dynamics Bitcoin pull back as expected and continue bearishly to the downside increasing with heavy bearish volatility. This was a great determination for us in the Elite VIP channels to achieve some great profits on the short-side not only with Bitcoin and Ethereum but also with other important cryptocurrencies. Nevertheless, in this current dynamic, I discovered an important structure forming for Bitcoin that actually has pivotal similarities with the previous fractal forming, therefore I detected all the important levels and upcoming determinations we need to consider in this case.

As when looking at my chart we can watch there how Bitcoin is trading within this huge massive ascending-channel-formation and bouncing off the lower- and upper boundaries. Besides that Bitcoin already previously completed this main bull-flag-formation-fractal once in the structure with the central elements forming within the formation and the main ABC-wave-count forming within to pull back off the 45-EMA and the 50% Fibonacci-retracement before the final bounce in the structure and breakout above the upper-boundary of the bull-flag-fractal-formation could occur with Bitcoin actually pushing forward to main higher levels in the structure, such a very similar fractal is forming now in the structure with the wave A almost completed and the further wave B and C to follow up.

Taking all these factors into the consideration now it will be highly decisive on how Bitcoin continues further here, therefore, when the wave-count continues to develop with the wave-B and wave-C remaining exactly like in the first fractal it will be decisive on how Bitcoin approaches the main support-cluster marked in orange in my chart. If Bitcoin manages to bounce in this main support-cluster and continue bullishly to form a breakout above the upper-boundary of the bull-flag-formation-fractal this will be the origin for further bullish continuations with Bitcoin having the ability to reach out higher levels, however, in this current situation we need to keep patient and await the final completion-steps before the final conclusions can be made, in this manner, it will be an important development ahead.

In this manner, thank you for watching the analysis, it will be great when you support it with a like, follow and comment for more upcoming market analysis, all the best!
"Great fortune is when opportunity meets preparation."

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