Should this occur and reject, will treat it as a "Blow-off Top", signaling capitulation dump and bottom on underlying crypto assets. For now, I wouldn't long crypto assets, unless they show clear combinations of bullish factors (structure breakouts, bull news, increasing volume, etc).
Just messing around here, but this looks to oddly make sense.
breakout with increasing volume. this looks ready for a big move up
Double bottom (W) formation seems to have formed on retest of TL
I'm watching BTC on 7 different charts from various exchanges and I think I've drawn and redrawn this channel differently at least 2 dozen times on each of them. I'm leaning bearish both on low and medium time frames *at least*, and I expect us to test high 5ks, even (much) lower if the HTF support breaks. I say this against halving logic, for various reasons,...
Currently watching this develop, hoping it will get invalidated by a clean push above the red trend line.
I know it's heavily loaded, but worth the effort imo
Detailed view on why I chose that level for the 1 Fib Retracement level in previous ideas.
It can still develop into either #1 or #2. Any confluence?
I'm hoping for a bounce here, on the lower channel bound, otherwise a larger pre-halving correction seems likely. Any thoughts?
I think we're all still so shaken by the bear market, we don't even realize that last year's "bull market" was only a pathetic attempt to start what only just now is starting... Now, was that the dip or not?