SIMPLE IS BETTER -> BTCUSD 1W LOG downtrends breakouts analysis

BTCUSD

SIMPLE IS BETTER, so I'll keep it short.

Elements on the chart:
- Teal line - THE uptrend
- Two dotted lines - long-term resistances (and targets)
- White lines - downtrends
- Pink circles - the current situation reference to the past one
- Green drawing - my (rather unreliable) projection of price

Long-term charts tend to tell the truth more often, as they are less susceptible to manipulation.

So far every downtrend (white line) breakout at this scale was legit (= no fakeouts).
Of course patterns do repeat until they don't, but let's be reasonable - BTC does respect downtrend breakout pattern since always. Why the hell would I bet against it now?

The facts end here, the rest is my speculation.

So I think we are in the same spot as marked by the first pink circle. The pattern is even similar. If so, we should see a pullback to the second yellow (dotted) resistance (same as in the past) This would project BTC at around $50k at end of this year.

Of course be prepared for anything. Watch if the pattern will hold.