I brought the price pattern form 2018 bear market, or is it different this time? ;)
Bitcoin is currently at 50 day MA support level (Green line). To me, if we can hold 50 day MA for a long-enough period (at least 2 weeks) then I will be bullish and the parabolic move has not ended yet. But if Bitcoin cannot hold that level we probably follow the similar pattern I brought from 2018 bear market.
The next STRONG support level would be somewhere around the intersection of two pitchforks I drew, the blue one and black one. If we break that level the next support has to be the 100 day MA (red line). The gray pitchfork is a micro scale and the blue one is a macro scale. The macro one has a really strong impact on the overall pattern. So, watch it!
Bitcoin is currently at 50 day MA support level (Green line). To me, if we can hold 50 day MA for a long-enough period (at least 2 weeks) then I will be bullish and the parabolic move has not ended yet. But if Bitcoin cannot hold that level we probably follow the similar pattern I brought from 2018 bear market.
The next STRONG support level would be somewhere around the intersection of two pitchforks I drew, the blue one and black one. If we break that level the next support has to be the 100 day MA (red line). The gray pitchfork is a micro scale and the blue one is a macro scale. The macro one has a really strong impact on the overall pattern. So, watch it!