BTCUSDT - LAST LEG UP TO ALL TIME HIGHS - 80K+ [2022]
Long term up trend was broken @ 24,295
Grabbed support @ 29.2k then bounced to ATH's
Sort of looks like a double bottom currently on this new trend line that was once resistance and broken @ 19.7k.
Double bottom (Eve & Adam which is a higher low DB) isn't yet confirmed, will need to close green above 45.8k on the weekly.
If confirmed the completed db pattern will test it left leg @ 67.5k, from there ATH's will be tested, not 100% positive we will reach above 69k but 67k - 70k will be tested for sure if DB is confirmed.
KEY notes:
$38,8xx - btc has broke and bounced off this price area before reaching 69k ATH ! on july 26, 2021
currently we are hovering just below that price range and on this weeks candle close, if we close above this price specifically $38,888, history will repeat it self.
currently in a strong up channel making HIGHER LOWS! respecting the up channel trend lines. Price action also is getting smaller and smaller and seems to be reacting to a rising wedge closing in right above 70k area. Currently at a low, which will probably test the next high before crashing to LOWER LOWS! which indeed will bring btc to 70k+ for its last leg UP.
if this weeks candle closes above previous star wick @ $40,348 this will be a morning star candle pattern which will give us a run up and confirming the potential double bottom pattern (Eve & Adam aka H/L DB) - and DB pattern will test its left leg down coming from 69k !
Grabbed support @ 29.2k then bounced to ATH's
Sort of looks like a double bottom currently on this new trend line that was once resistance and broken @ 19.7k.
Double bottom (Eve & Adam which is a higher low DB) isn't yet confirmed, will need to close green above 45.8k on the weekly.
If confirmed the completed db pattern will test it left leg @ 67.5k, from there ATH's will be tested, not 100% positive we will reach above 69k but 67k - 70k will be tested for sure if DB is confirmed.
KEY notes:
$38,8xx - btc has broke and bounced off this price area before reaching 69k ATH ! on july 26, 2021
currently we are hovering just below that price range and on this weeks candle close, if we close above this price specifically $38,888, history will repeat it self.
currently in a strong up channel making HIGHER LOWS! respecting the up channel trend lines. Price action also is getting smaller and smaller and seems to be reacting to a rising wedge closing in right above 70k area. Currently at a low, which will probably test the next high before crashing to LOWER LOWS! which indeed will bring btc to 70k+ for its last leg UP.
if this weeks candle closes above previous star wick @ $40,348 this will be a morning star candle pattern which will give us a run up and confirming the potential double bottom pattern (Eve & Adam aka H/L DB) - and DB pattern will test its left leg down coming from 69k !