Bitcoin, Approachments That Will Determine Upcoming Destinies!

Hello my friends,

Welcome to this analysis about Bitcoin, we are looking at the daily timeframe perspective, the recent events, the established formational structure, what to expect the upcoming times and how to possibly handle the situation appropriately. The year 2020 is coming to an end and it is great to see the achievements reached within the Elite Channel in 2020 and the support came from people supporting, this is really fortunate and we are looking forward to 2021 also staying tuned within the market and looking for the proper opportunities. The last times we have seen Bitcoin moving forward with strong upside volatility while other major Cryptocurrencies have different edges from either bullish to go sideways or moving to the downside, these divergences are important to recognize when trading within this market especially with currencies that have high volatility as it is often the case, for the major Bitcoin there is still room however we should not underestimate the overbought situations and that the market can reverse direction sooner or later, therefore I detected all the important levels and likely outcomes we should consider here.

As when looking at my chart we can watch there how Bitcoin has now established this important wave-count to the upside with the waves 1 to 3 almost already completed and the wave 3 now approached this major ascending-resistance-line marked in my chart in red where it initially pulled back and more pullbacks are likely to show up the next times. When Bitcoin shows up with further pullbacks in this structure to form wave 4 this will lead into the blue back-up-cluster marked in my chart where several supports lying and also the breakout-origin from this major ascending-channel-formation from were on Bitcoin gained upside momentum moving strongly above the upper-boundary, this zone is a likely zone to bounce and a likely zone for the wave 5 to establish that will move higher and point to the head-and-shoulder-target at 37715.5 that I already mentioned previously. When considering this the blue cluster is extremely urgent to hold because Bitcoin will increase with bearish pressure when moving below, when Bitcoin points to the final head-and-shoulder-target and also reaches it the possibility for a bigger pullback firstly moving to lower levels is high, for now, it will be crucial how Bitcoin moves on with the wave-count and how it reacts when reaching the main targets, it will be interesting developments ahead.

In this manner, thank you for watching the analysis, have a good upcoming Happy New Year's Eve, many thanks for all people supporting this year, all the best!
"There are many roads to prosperity, but one must be taken."

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

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