IS THIS THE START OF THE BULL RUN?

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I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.

#BTC


BTC is breaking out of this ascending triangle and also trying to break this symmetrical triangle pattern.

All these confluences are showing bulls are back in action, and we'll witness a strong bullish rally in the market but RSI is in over boat range.

For more conformation, we need a conform breakout of this symmetrical triangle pattern.


Analysis
- I have taken fractals from the past, 2019, from historical price action that we refer to as an 'echo bubble'.
- According to the fractals, one possible scenario is that we tap $14k, before making a 100% move up to $28k.
- This would be a completely reasonable trajectory to have in mind, considering that we have seen a case for Bitcoin moving from $4k to $14k
- Eventually, we would peak around the summer of 2023, with everyone thinking that the macro bull market has resumed.
- Personally, if this speculative scenario plays out, I would revert back to holding a massive cash position until the dust settles again.
- People, including myself, thought we'd never get back below 20k, and here we are now, with people calling for $7k.


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Commentaire:

Commentaire:

Commentaire:

#BTC

BTC perfectly continued its bullish move after reclaiming the main horizontal support and breaking out the descending trendline resistance.

Bullish volume is expanding, and $21.5K is the current resistance level that bulls must break to keep the market's bullish momentum going.