Well this looks oddly familiar. Mini bearmarket on 1h chart?
So I noticed this similarity, as always fractals can be seen everywhere at any timescale in markets. But here, it was really interesting that the current 1h chart,
looks really similar to the 1d chart of the 2014-15 bearmarket.
Well, if we were to apply this scenario to the current situation, we'd slump slowly down to a low of around 8k, upper 7k, then stabilize at 8-9k, and then slowly resume our uptrend in Q3 this year.
It would also fit my other view, in which I think that we need to touch the daily MA200 again, before continuing the uptrend:
As always, BTC might surprise us, and do something entirely different, but I had to share this finding here, even though it might be total BS hehe :)
It is interesting nonetheless.
looks really similar to the 1d chart of the 2014-15 bearmarket.
Well, if we were to apply this scenario to the current situation, we'd slump slowly down to a low of around 8k, upper 7k, then stabilize at 8-9k, and then slowly resume our uptrend in Q3 this year.
It would also fit my other view, in which I think that we need to touch the daily MA200 again, before continuing the uptrend:
As always, BTC might surprise us, and do something entirely different, but I had to share this finding here, even though it might be total BS hehe :)
It is interesting nonetheless.