BTC my targets, we will hit the previous monthly order block, as this was the last previous bearish month since the massive bull run. I personally think we will reach this area as the previous one had been filled in since. As illustrated below.
This also means that on the daily time frame we can see that this is the mean trend line for BTC, this also crosses the order block at the same time, which i think we will reach as this will have the most support.
Finally the chart has also followed the 2014 fractal since the peak but in a much much quicker time, due to more people that are in it are the general public and perhaps don't know as much about BTC as others and have "weaker hands" hence the price dropped much quicker. IF BTC continues to folow this fractal it means that the bottom would be around the monthly order block area (blue box).
This would also mean that Bitcoin will have a final capitulation, and then complete the market cycle by having an accumulation period and therefore we will have completed the cycle.
As a result alts will have a slight pull back, and then in June/July we will have an alt season when BTC is in its accumulation period as it wil be going sideways.
I have ilustrated altseason with Doge coin and this fits altseason in June July, considering we have a pull back like we did in the red square.
Only an idea.
This also means that on the daily time frame we can see that this is the mean trend line for BTC, this also crosses the order block at the same time, which i think we will reach as this will have the most support.
Finally the chart has also followed the 2014 fractal since the peak but in a much much quicker time, due to more people that are in it are the general public and perhaps don't know as much about BTC as others and have "weaker hands" hence the price dropped much quicker. IF BTC continues to folow this fractal it means that the bottom would be around the monthly order block area (blue box).
This would also mean that Bitcoin will have a final capitulation, and then complete the market cycle by having an accumulation period and therefore we will have completed the cycle.
As a result alts will have a slight pull back, and then in June/July we will have an alt season when BTC is in its accumulation period as it wil be going sideways.
I have ilustrated altseason with Doge coin and this fits altseason in June July, considering we have a pull back like we did in the red square.
Only an idea.
This is also a capitulation bottom for ETHBTC which means that alts will bottom out after this pump again.