Comparing those 2 patterns
I knew that this looked familiar, didn want to post it first because its not that obvious, but when you look at the date...well the left one was BTCUSD exactly one year ago ! This said, the whole figure makes so much sense.
ALSO, didn put the picture but this pattern was there 2 years ago (from november to january 2022) and resulted on a rally as well
So what the different parts of this pattern :
- first, red candles that bring us to new lows, RSI under 15
- 2 consolidations periods with almost the same duration (grey rectangle)
- 1 failed attempt to break the resistance in the middle of those consolidations period (green circle)
- Spring, bear trap (red circle) that mark the end of the consolidation and bring us a nice rally
In conclusion, what remains to determine it's if we already hit that spring or not.
0.618 fib extension at around 55 500 could fit perfectly but following this idea we still have one week before the rally
So still following that idea, 2 possibilities :
- We stay around or upper that 55 500 mark and we go up very soon
- a little squeeze to 51k before next week and we go up after
This idea will be invalidated if we go below 49K
I knew that this looked familiar, didn want to post it first because its not that obvious, but when you look at the date...well the left one was BTCUSD exactly one year ago ! This said, the whole figure makes so much sense.
ALSO, didn put the picture but this pattern was there 2 years ago (from november to january 2022) and resulted on a rally as well
So what the different parts of this pattern :
- first, red candles that bring us to new lows, RSI under 15
- 2 consolidations periods with almost the same duration (grey rectangle)
- 1 failed attempt to break the resistance in the middle of those consolidations period (green circle)
- Spring, bear trap (red circle) that mark the end of the consolidation and bring us a nice rally
In conclusion, what remains to determine it's if we already hit that spring or not.
0.618 fib extension at around 55 500 could fit perfectly but following this idea we still have one week before the rally
So still following that idea, 2 possibilities :
- We stay around or upper that 55 500 mark and we go up very soon
- a little squeeze to 51k before next week and we go up after
This idea will be invalidated if we go below 49K
註釋
For now looks like we're going back to 51k註釋
Maybe BTC is gonna stay in this zone or pullback till 55k5 during the weekend and we will see the final drop to 51k on Monday/Tuesday?註釋
Any real confirmation would be higher high 65K or the breakout of this curved line on the topif it happens this is the start of this new alt season and bull run?
註釋
Comfort is we stay above this 100 MA 4H before getting higher high or breakout of the curved line, for now we still can expect some moves in the other directions註釋
BTC trying to break the curved line right now, if it can do it and stay min at 60k5, we prob gonna see new ATH very soon註釋
officially out of this downtrend movement1 year of altcoin season ?
next goal now is to guess the top
in my opinion there will be an other big correction in April, but not as big as the last year
cheers
註釋
BTC is now sitting at 0.786 fib extension, next stop would be 80K after breakout
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