This has been my go to chart ever since BTCs bottom at 15k and its kinda crazy to me that after 2+ years the damn thing is somehow still relevant. Things are getting interesting again so good time for an update.
We got the retrace down to 50k before moving up to break the channel like I wanted ✔️
Now a little over a year later have retested it for the first time at 75k.
I mentioned in the update to last year's Idea that I was anticipating a counter-trend rally and it appears the bulls have already kicked that off with the move up to 90k ✔️
BTC has now approached another significant resistance around 91-92k, and as you can see on the chart, is now beginning to squeeze between the upper resistance and counter trendline.
This sets the stage for an epic showdown next week between the bulls/bears for the 1M close,
which should be fun to watch.
***Friendly Reminder***
The irrational 🥭 reserves the right to completely fuck everything up by doing something stupid like firing Powell and crashing the markets, so keep that in mind. 🤣
We got the retrace down to 50k before moving up to break the channel like I wanted ✔️
Now a little over a year later have retested it for the first time at 75k.
I mentioned in the update to last year's Idea that I was anticipating a counter-trend rally and it appears the bulls have already kicked that off with the move up to 90k ✔️
BTC has now approached another significant resistance around 91-92k, and as you can see on the chart, is now beginning to squeeze between the upper resistance and counter trendline.
This sets the stage for an epic showdown next week between the bulls/bears for the 1M close,
which should be fun to watch.
***Friendly Reminder***
The irrational 🥭 reserves the right to completely fuck everything up by doing something stupid like firing Powell and crashing the markets, so keep that in mind. 🤣
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