BITCOIN is Testing HIGHER LEVELS Before BEARS Step In!Bitcoin / US DollarCOINBASE:BTCUSDVincePrinceHello There, welcome to my new analysis about BTCUSD. Right now, I have detected important signs that should not be underestimated. There are still a lot of whale addresses that did not sell their BTC. This bearish pressure is likely to unfold in the upcoming times as more and more whales sell their shares, dumping the market. Therefore, I am analyzing the 12-hour timeframe perspective on a log scale, as this shows the best relations regarding the current trading range. As I already mentioned in previous ideas, BTCUSD is now testing remaining resistance levels in the range. The bullish alignments bouncing from the lower levels at 66000 generated an initial long setup and trade to profit from the rising prices. Currently, BTCUSD is already in the profit-taking areas, however, there is still room for further testing of high prices. As BTCUSD forms this range ascending triangle, this could lead to tests of the 84000 to 86000 range as marked in my chart. If BTCUSD should immediately pull back and increase bearish pressure directly, a drop below the 100-EMA would indicate further bearish selling pressure towards the downside. This would go in line with the drop below the ascending support line and invalidation of any further bullish scenario as well as testing of higher levels. Nonetheless, if BTCUSD aims higher and completes the range ascending triangle formation, the move into the resistance cluster as seen in my chart is imminent. Taking all these factors together, the overall condition is that BTCUSD is going to form further substantial selling pressure, especially when further whale selling volume occurs. In the overall condition, BTCUSD is forming this massive bear-flag formation. A drop below the lower boundary is going to complete it and activate the target, as seen in my chart. It will also be determining when large supply selling from large whale addresses occurs in this market. In this manner, thank you a lot for watching! What do you think about BTCUSD currently? Let us know in the comments! VP