BITCOIN ABOUT TO REPEAT THE SAME PATTERN
As you can see in the chart, we have been in range for 52 days.
The previous range, lasted 53 days, if history repeats itself, between today and Thursday we should see a breakout to the downside and a retest of the 25k level.
There are two main coincidences:
1- Almost the same downside movement distance to the major support (9%).
2- The same downside movement from the top of the range till the bottom of it (13%).
However, we can observe a great difference, that it's the Volume. The previous range had 15.5M volume meanwhile this one had only 4.5M. That's three times less volume. Thing that can Indicate a very big move incoming.
If what I say is correct, it could be a good choice to:
- Open a short now till 25k.
- In 25k Open a long till 35k.
This is only a simple observation. Always do your own research.
I would be very happy to see your opinion in the comments, if you agree, remember to give me a boost.
The previous range, lasted 53 days, if history repeats itself, between today and Thursday we should see a breakout to the downside and a retest of the 25k level.
There are two main coincidences:
1- Almost the same downside movement distance to the major support (9%).
2- The same downside movement from the top of the range till the bottom of it (13%).
However, we can observe a great difference, that it's the Volume. The previous range had 15.5M volume meanwhile this one had only 4.5M. That's three times less volume. Thing that can Indicate a very big move incoming.
If what I say is correct, it could be a good choice to:
- Open a short now till 25k.
- In 25k Open a long till 35k.
This is only a simple observation. Always do your own research.
I would be very happy to see your opinion in the comments, if you agree, remember to give me a boost.
Comment:
Likely-hood of bear trap significantly reduced, high chance of upside movement continuation.