Bitcoin appears to be forming this potential Double Bottom . The price may come down to retest $44.2k before pumping to around $50,000.
Bitcoin might be forming this Wyckoff Accumulation Pattern. If Bitcoin is then it's currently in the BU / LPS stage.
Bitcoin has been trading against this Curve Line since November 2021. Here's my annotation of the price action on the 12H chart.
Bitcoin appears to be in a Bart Simpson pattern. If this pattern plays out then we could see lower prices over the next 1-2 days.
Bitcoin could still be in a potential Wyckoff Redistribution Phase. It's forming a similar pattern from May - July 2021.
Bitcoin may be approaching the .5 to .618 levels in the short to medium timeframe. Bitcoin has shown this type of relief rally in Early 2014 and Early 2018 as well.
Bitcoin appears to be forming a similar fractal pattern from the low of January 2019 on the 1D chart.
Bitcoin appears to be descending to the short-term support level around the lower trendline of this Ascending Channel. The Daily S2, previous resistance, 50 EMA and VPVR confirms this support zone. Since the Daily CPR Central Lines are extremely tight, I do expected a further drop to the 20 or 50 EMA on the 1D chart around $41.7k over the weekend.
Bitcoin has been trading within this Ascending Broadening Wedge for the past three days. The price target is the bottom of the wedge around $42k.
Bitcoin had a Golden Cross on the 1D chart. A Golden Cross is when the 20 EMA crosses above the 50 EMA. Golden Crosses are usually bullish.
Bitcoin appears to be forming this Double Bottom on the 12H chart.
Bitcoin appears to be forming this Ascending Triangle and Rounded Bottom on the 15min Chart.
Bitcoin appears to be forming a Rounded Bottom / Inverse Head and Shoulders on the 2HR chart.
Notes of Wyckoff Market Cycle Price Action on the 2HR chart.
Bitcoin had a massive pump yesterday because of the Bull Flag. If the price can stay above the 50 EMA on the 2hr chart then I expect to see more movement to the upside in the immediate short-term.
Bitcoin appears to be trading within this Ascending Triangle. But since I believe BTC is most likely in an Wyckoff Accumulation phase, I think there could be a breakout / fakeout to the upside before a major dump.
Some notes of Bitcoin's current situation on the 3 Day chart. It appears Bitcoin could be in a redistribution phase.
Bitcoin may be forming this rounded top pattern on the 12H chart. The price target would be around $29,500 which is also the monthly S2 Support line.