We’ve seen 4 consecutive green candles and there is no argument for the bitcoin bullish trend. Body of candles getting smaller showing exhaustion, we might see at least couple of weeks price correction as we discussed in the channel before. There is an Evening Star candlestick pattern shaping up in the monthly time frame and I really hope that 25 k $ (MA50) keeps holding. Closing below 23200$ is in Bears favor for the short term.
**The hack of bitcoin cycle bottom that I personally worked on and shared with you is this: **
Every time bitcoin finds the cycle top, then the bottom will be equal to the Fibonacci Level of 0.869% from halving the date candle to the cycle top. This worked since the bitcoin chart was created in 2010! See the chart for a better understanding.
This is super accurate.
**The hack of bitcoin cycle bottom that I personally worked on and shared with you is this: **
Every time bitcoin finds the cycle top, then the bottom will be equal to the Fibonacci Level of 0.869% from halving the date candle to the cycle top. This worked since the bitcoin chart was created in 2010! See the chart for a better understanding.
This is super accurate.
Comment:
Some might still remember the bull run from 2018 where we witnessed a premature peak at 14k (the bear market started after the market topped at 20k and dumped about a year to 3k or so then moved back to 14k and dumped again to 4k). if this is the case for this cycle too then we must get a clear rejection around fibo. Level of 0.618 @48.5k and dump back to 28k or so. (See picture below) or continue the current wave down to 20k.
Trade active:
Working as expected.
Comment:
Please Make sure to read above comments about Bitcoin possible local high as we are approaching that level.
