Bitcoin's Matured Consolidation Pattern
If my analysis is correct and TA is respected, we are rounding out and confirming a new area of support before liftoff. We've grinded this area for over a month now (coming up on 2 months) since the Feb 20th Resistance was established and there is a change in behavior at our current level compared to when we had our false break March 13th.
I've included the larger target for the humongous consolidation pattern (which is very Ascending Triangle - esque. But I've also included the 1.618 (bearish harmonic pcz target), which lines up with our final Inverse H&S measured move.
You can see my previous chart for other indicators and patterns, but I wanted a more clean look at this area. 2d, 3d, 5d, and weekly all showing bullish signals on osciliators, and CME chart for bitcoin even clearly has bullish divergence on daily Macd (which isn't as ugly looking as spot with our 24/7 trading and weekend fery).
As always no financial advice, just sharing my viewpoint of this beautiful chart and excited to see the fireworks.
I've included the larger target for the humongous consolidation pattern (which is very Ascending Triangle - esque. But I've also included the 1.618 (bearish harmonic pcz target), which lines up with our final Inverse H&S measured move.
You can see my previous chart for other indicators and patterns, but I wanted a more clean look at this area. 2d, 3d, 5d, and weekly all showing bullish signals on osciliators, and CME chart for bitcoin even clearly has bullish divergence on daily Macd (which isn't as ugly looking as spot with our 24/7 trading and weekend fery).
As always no financial advice, just sharing my viewpoint of this beautiful chart and excited to see the fireworks.
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