BITCOIN Triangle. A sign of an upcoming rally?

Those who follow me for quite a long time here on Tradingview and in the past on Reddit, know that I very often utilize fractal dynamic on my technical analysis. The most recent one on the 1D time-frame has been the following, which we can claim that it 'played out' quite effectively:


I am bringing to you something different today, this time a longer one on the 1W time-frame. Based on the Triangles shown on the main chart, Bitcoin is replicating an A-B-C-D pattern resembling the Cycles of 2014-2016 and 2018-2019. Could it be that this time we have a mini Cycle within the Cycle? Based on this fractal comparison it is quite possible. It is important to note here that I am not taking into account the March 2020 COVID market crash as it is a technical anomaly that was caused by a once in 100 years event (pandemic).

So the key element here in my opinion is the (d) leg. On both previous Mega Cycles, is was contained above or on the 1W MA50 (blue trend-line). On the current 'mini' Triangle, the 1W MA50 is holding for the moment. If it continues to do so, can that mean that a break of the Triangle to the upside will kick-start a new parabolic rally, quite possibly the final one of this Bull Cycle? I believe yes.

But what do you think? Feel free to share your work and let me know in the comments section!


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