Crazy Bitcoin fractal, but now it's not that crazy anymore
Updated
I looked at today's chart and all of a sudden it struck me, i think i have seen this shape before. So i looked back at the 10K rally in April and saw this shape. I had it half a day ago, but thing is. Back then things went much faster than past half year. So the time frame did not feel good. But now when thinking about it again, this rally has been extremely fast, so in that sense, it's actually even good. Just got home so unfortunately not able to post it sooner, but i think it might still be helpful. Also the missing purple circle stopped me from posting this when i saw it earlier today. I used to have enough time to do my research, finding things like these. But past year i unfortunately don't have that luxury anymore. But later this year i will most likely have more time again to do this. Fractals are not always perfect, but they can be amazing road maps sometimes.
Think if we stay below the 7900/7850, it might still be real. If it breaks, than i would forget about it.
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Previous fractals:
Think if we stay below the 7900/7850, it might still be real. If it breaks, than i would forget about it.
Please don't forget to like if you appreciate this :)
Previous fractals:
Note
Note
This is bouncing up quite strong now. There was an attempt there few min ago to drop, but selling volume is just too small. Like there are not enough bears in the house. The tables have been turned it seems. But makes sense, who has the balls to short this market now. So only selling volume is probably just selling and less shorting. The fractal is not completely over yet, but becoming more likely to be a failure. 7800 is a level now i think, found support there and a volume increase, so that level looks to be legit now as a support.
Note
So made another high even above 8300, invalidating the fractal. But not convinced of it. The highs are getting less high now. From 8000 to 8200, then 8340, both with a 500/600 point dump. So chances are that a temp high is closing on now. We have an important support around 7600. Think the 7800 support still has some value, but i think it has shifted to 7900ish now. For this possible top formation to break, we need to see a rally above 8500. Still trying to figure out a better road map for Bitcoin, if i have one i will write a normal analysis.
Note
Maybe i had the details a bit off. Fractals are not exact science, when looking at it now, we should have this now. This does mean, the current move up should stay below the 8000. But what doesn't add up to me to be honest, this fractal says the high is already set. I am not really sure about that, would be much too soon after such a huge rally. You know i am still not convinced of this rally being a real one and not just a big short squeeze. But normally would be much too soon.Anyway, we have a simple road map with this one, when seeing 8000ish break, we can already forget about it
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