BTCUSD - Different but same energy ?
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
Note
For now looks like we're going back to 51k
Note
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?Note
Any real confirmation would be higher high 65K or the breakout of this curved line on the top
if it happens this is the start of this new alt season and bull run?
Note
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 directionsNote
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 soonNote
officially out of this downtrend movement
1 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
Note
BTC is now sitting at 0.786 fib extension, next stop would be 80K after breakout
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.