Is Bitcoin Repeating The Past?

When I look at the process from May 2019 to 2021, a similarity with the process we have experienced since June 2022 caught my eye.

After the rise in August 2019, the order block determined a resistance, I think the same resistance was determined in August 2022.

Resistance has been tested 3 times in the past. First test October 2019; the second test in February 2020; The third test was conducted in June 2020. The same formation continues in the current process. Although the tests in the current period were not fully performed due to low volume, we can see that these tests are tried to be made in September 2022; October 2022 and February 2023.

In order to establish a better correlation, I took the pattern of the movements that occurred in the past and added it to the current situation. The fading black line indicates this.

FUD, which has shaken the market due to the SEC lawsuits that have emerged in recent days, has brought the price of Bitcoin down. In case of rejection from the $23700 support due to this withdrawal, the past pattern will be completed. The blue circle shows past action.

The resistance of $40000 is important for Bitcoin, which will experience a bull run after this rejection. We can understand this from the resistance of $18000 in the past.

If the scenario develops in this way, the $24700 level will be the last buying opportunity for Bitcoin. We will see this together.
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