We may have a big inverse Head and Shoulders in formation right now. If the teal trendline gets retested and it holds it can be the spark for a breakout to the previous high from June 2019. It fits very well with the upcoming bitcoin halvening so this bullish narrative can be in play.
Although the general feeling is pretty bearish these days, this setup may work this way. We may be at the end of a bigger ABCDE correction which usually ends with a bullish break-up. If we take an equal measure and projected at break-up point it would align perfectly with 382 fib level, which would be my target too. PS: That's my first published idea, so be...