Bitcoin, Testing Remaining Zones, Upcoming Perspectives!

2021年5月5日

Hi,

Welcome to this analysis about Bitcoin, we are looking at the 6-hour timeframe perspectives. Since Bitcoin heavily pulled back from the established all-time-highs it firstly somewhat recovered in the structure and has now completed this decisive ascending-wedge-formation where it firstly moved bearishly below the reference support zones. This price-action is indicating a continuation and establishment of the wave C to test the lower levels at 48.200 USD as shown in my chart, these zones have a good potential for Bitcoin to bounce and form a considerable bullish pace to the upside again, otherwise, when this does not happen and Bitcoin falls below the supports this will lead to a wave-C-extension with the testing of further levels.

In this manner, thank you for watching the analysis and great contentment for everybody supporting, all the best!
"Trading effectively is about assessing possibilities, not certainties."

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