Well, I've had a change of heart ... perhaps, maybe we might not see a double bottom. Please don't get me wrong ... it's still on the cards, but a new pattern could be emerging. Maybe there's a different way to interpret what has happened with BTC in the past 3 months, and that interpretation does lead to a different opinion of what could happen in the weeks to come.
Perhaps we completed an impulse wave from 20k to 6k. Then an ABC correction took us to 11.6k. Could we now be in a Triangle Wave? The weak recovery to 9k took me by surprise, but it does make sense based on this chart (key is switching to log scale). Will the 6k trend line now provide support for the triangle wave? A bounce off the 7.5k to 7.6k range is needed to support this hypothesis.
If in fact we have entered a triangle wave, well then remember all the angles within a triangle add up to 180 degrees, and perhaps then BTC will make a 180 degree turn from a bearish cycle to ... I can't wait for April.
Remember, only a fool settles on one possibility.
As always, do not rely on my charts for investment decisions. This is for educational purposes only.
Perhaps we completed an impulse wave from 20k to 6k. Then an ABC correction took us to 11.6k. Could we now be in a Triangle Wave? The weak recovery to 9k took me by surprise, but it does make sense based on this chart (key is switching to log scale). Will the 6k trend line now provide support for the triangle wave? A bounce off the 7.5k to 7.6k range is needed to support this hypothesis.
If in fact we have entered a triangle wave, well then remember all the angles within a triangle add up to 180 degrees, and perhaps then BTC will make a 180 degree turn from a bearish cycle to ... I can't wait for April.
Remember, only a fool settles on one possibility.
As always, do not rely on my charts for investment decisions. This is for educational purposes only.