First idea failed. Let's see if this one plays out. We would be back to the 21-22k around April/May 2023.
The consolidation that is about to end after the FTX crash is surprisingly similar to the COVID crash of March 2020. Both on the 4H time frame. Let's see how it turns out. Cheers!
So many things to cover here: 1- In the past cycles, when 50 SMA crossed down with the 100 SMA on the weekly chart confirmed the bottom was in and we were around the middle ove the accumulation phases. In 2015 and 2019, the price level of the cross was suprisingly close to the initial level of support holding bitcoin's price for a year before dropping 45% to...
Seems like yesterday's idea didn't play out. Here's an updated one on the 9min time frame (yes 9 min... I just tried to find the most matching time frame... :P )
Short term panic sell reaction VS long term panic sell reaction. Will we recover that fast? :) 2m vs 1D
Actual BTCUSD pattern very very similar to the price surge at the end of 2013 which took almost a year before finding the bottom before new highs. This year, with the mainstream exposure, the pattern is repeating but faster. I expect it to hit support at 4000 sat around June/July then, would begin a super bull run. No fancy TA, just market cycles.