Double bottom / Ending diagonal
Updated
just checking my old BTC charts and we found
that bitcoin is almost done to his downtrend,
since we can see a clear ending diagonal and
the month ABC correction is almost done,
the question right now how dip can bitcoin go?
is the current status we can see a possible
double pattern set up on daily, the price
can go around somewhere 18k+ if were right
or somewhere 19k too,
since on abcde apttern around 17k+ was invalidate
when bitcoin hits 24k this means price is making
H from 17k LL, the next scenario for this is
bitcoin is looking for HL now, that can create a
double bottom pattern.
so whats next if bitcoin bottom? the possible
scenario is bitcoin will attempt to break 24k-26k
level but it wont exceed to 35k or 30k since,
on macro view and economic status and halving
schedule bitcoin will enter on long consolidation
or accumulation before the next halving start
on MAY 04, 2024,
so everyone has plenty of time to accumulate
before 2024, so right now if we go to bottom
then we can still play the swing strategy
on daily, were the bigger range will determine
how big it is.
for now lets see what will happen on the price
this september after the new feds hikes,
on our previous chart (see attached photo)
were looking for bitcoin to go bottom
on october 2022.
good luck and i will update this once
we see a good signal, for now bitcoin
is on 50/50 were price will find double
bottom.
that bitcoin is almost done to his downtrend,
since we can see a clear ending diagonal and
the month ABC correction is almost done,
the question right now how dip can bitcoin go?
is the current status we can see a possible
double pattern set up on daily, the price
can go around somewhere 18k+ if were right
or somewhere 19k too,
since on abcde apttern around 17k+ was invalidate
when bitcoin hits 24k this means price is making
H from 17k LL, the next scenario for this is
bitcoin is looking for HL now, that can create a
double bottom pattern.
so whats next if bitcoin bottom? the possible
scenario is bitcoin will attempt to break 24k-26k
level but it wont exceed to 35k or 30k since,
on macro view and economic status and halving
schedule bitcoin will enter on long consolidation
or accumulation before the next halving start
on MAY 04, 2024,
so everyone has plenty of time to accumulate
before 2024, so right now if we go to bottom
then we can still play the swing strategy
on daily, were the bigger range will determine
how big it is.
for now lets see what will happen on the price
this september after the new feds hikes,
on our previous chart (see attached photo)
were looking for bitcoin to go bottom
on october 2022.
good luck and i will update this once
we see a good signal, for now bitcoin
is on 50/50 were price will find double
bottom.
Note
target hit, on tract to 30k+ end year
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