Just observing the fractal from the previous bull run. Be prepared to be shaken out both ways
Not 100% sure if Bitcoin regains support line immediately. Initial rejection can look like this^
Either SPX is going up and Bitcoin will catch up later, or both are going down (before a new leg up, mid March 2024)
1. Get back over "support" line 2. Complete the symmetry i.imgur.com i.imgur.com
Dream scenario if ETF gets approved is a return to the support line
Each of these BTC/SPX tops tend to end that way. However, the last 2 years we spent in a bear market, so maybe the pattern stops here. Anyway, I don't see BTC climax until 2025, more consolidation is needed, and this is the most logical setup to cool down a bit.
I have become convinced that Bitcoin is fundamentally off course since the early 2022. Don't miss the next bull run which should climax in Q2-Q3 2025. What happens after -- we'll figure out later.
Bear markets last around 60 weeks. If this holds we have 2 years of what can be considered bull market ahead. A lot of time to fill, so I wouldn't expect it to go up in a straight line from here...
The charts are the result of a brute-force search for similar PA patterns over different timeframes in all of Bitcoin's price history. Use your human intuition to judge which of these scenarios looks the most harmonious. Some traders are able to stare at a blank chart for hours until they get a hunch, but I am not one of them. To synthesize something completely...
Fractal voodoo: imgur.com i.imgur.com i.imgur.com
SPX crash, Celsius, Terra/Luna, Binance buying 2B worth of corn to dampen the fall -- we cannot predict any of these external factors. But at this point this is what I would like to see to remain bullish on macro Bitcoin: i.imgur.com i.imgur.com i.imgur.com
The slope of the orange lines. This will be the first time where both the floor and the ceiling lines are going up. There will be less "bear" in the coming bear market, which ends in 2024.
It has been an underwhelming bull run and an underwhelming bear market to match (I don't believe in 80% corrections, the cycles are history) My (temporary) party program for the next two years: i.imgur.com
Fractal voodoo: i.imgur.com Bitcoin respect logs support: i.imgur.com i.imgur.com
Fractal voodoo: i.imgur.com Log support: i.imgur.com i.imgur.com
Fractal voodoo: i.imgur.com i.imgur.com i.imgur.com Let's try this
Fractal voodoo Last week: i.imgur.com Current: i.imgur.com
Fractal voodoo i.imgur.com i.imgur.com i.imgur.com i.imgur.com