Bitcoin, Why This Move Was So Important And Where Target Holds!

Hi,

Welcome to this analysis about Bitcoin, we are looking at the 6-hour timeframe perspective, the recent events, the current formational structure, the important confirmations we have seen lat times, the confirmations following, and where the market is supposed to have its destinations. As Bitcoin has shown up with this exaggerated exponential price-explosion bullishly to the upside Bitcoin moved above major resistance zones, managed to fully emerge within the new all-time-high zone, and very importantly validated several reference-points on this way that I discovered, therefore we are looking at all the significant zones and likely outcomes the next times.

As when looking at my chart we can watch there how Bitcoin emerged with this strong upside breakout above the boundary of its previous established ascending-channel-formation, this breakout was also matching with the developed wave-count and the coherent wave-E-extension still going on with the origin within the channel-breakout. Besides that Bitcoin is building a similar bull-flag like it has already done once before in this structure which formed before the final channel-breakout shown up. Furthermore, the channel-breakout activated the major target at 25.000 USD as it is marked in my chart which will be reached when Bitcoin completes this second bull-flag.

Taking all these factors into consideration we can expect the final wave E within the wave-E-extension to contribute next times when Bitcoin moves above the upper-boundary of its second bull-flag and closes there, such price-action will point to the final target as it is shown in my chart. What should be considered when Bitcoin approaches this level is that there is a higher possibility for a first initial pullback given as Bitcoin is somewhat overbought and the wave-counts ending this can lead to a pullback from this target back to the bull-flag-zone again after that has formed the market has to be elevated anew and if the continuation can set in right away or Bitcoin firstly tests the lower support zones.

In this manner, thank you for watching the analysis, have a great day and weekend, all the best!
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Information provided is only educational and should not be used to take action in the markets.