BITCOIN, It Is The CALM Before The STORM!Hello Community,
Bitcoin is in a pivotal range building up within recent times into the New Year 2022 and history has shown that such a pattern will lead to a devastatingly high-volatile breakout sooner than later, most often in times when people least expect it. Therefore it is necessary to be prepared on upcoming volatilities and look at how the market can develop, especially also in the Altcoin Section this can bring some worthwhile opportunity potentials to the fore. As the beginning of the year normally marked an important milestone in which Bitcoin is likely to show up with central price-changes and volatility increases this can also happen here. While Bitcoin adoption and technology advancement is still moving on there are major structural technical elements to consider here, therefore, I discovered all the important levels, upcoming determinations, and scenarios we need to consider with BTC holding above the 46.000 USD level and building this paramount formation.
Looking at my chart we can see there that Bitcoin build this clear channel-formation which it initiated with the first major wave-A to the upside and after that moved on with the second major wave-B to form this main channel formation. Within this channel formation of which the wave B is simultaneously consisting Bitcoin is forming the local channel wave count reaching from A to E with the waves A to D already completed. The wave C had its origins within this main local triangle formation that formed in the lower boundary range, such a similar local triangle formation is now forming as well and once this is completed the wave-E has a high likelihood to emerge. When the wave-E appropriately emerges it will be highly decisive on how Bitcoin actually approaches the upper boundary of this whole channel formation, when Bitcoin in this case moves on to hold this higher level there is a solid possibility given that Bitcoin breaks out the channel and continues with the wave-E-extension as well as with the wave-C-expansion. In this case, BTC will have the ability to test the main remaining resistance within the 56.000 USD which is still a highly crucial level because this can mark either a strong reversal point or a point above which Bitcoin has the ability to build upon. For now, it is necessary to be prepared for upcoming volatilities and then see how Bitcoin evolves, it will be a determining journey.
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Information provided is only educational and should not be used to take action in the markets.
