I have been thinking that the current rally is nothing more than a very large bear flag , with another sharp drop incoming shortly.
Interesting to note that current trend lines of recent peaks and troughs line up with key points on the previous 2017 bull cycle. Perhaps this gives an indication of where the bottom of this cycle could be? Also, we know that BTC has bounced off 200WMA on a number of occassions to signal a true bottom. 200WMA is now aligning with the bottom and uprise trend right back from 2020.
All speculation, of course, and construction discussion very welcome.
Comment:
Are we going to see it all the way to the 200WMA or another bear flag first?
Comment:
Hit the target. Are we going to see lower prices? Maybe, but i expect a bounce first.