From our previous idea we saw the break below and did not retest the support required to gather strength to rally to 30k. An interesting detail emerges when looking at the logarithmic chart for bitcoin. Every rally bitcoin had came with a double bottom on a previous top before hand as shown by the purple resistance and support lines. This is on the weekly timeframe as well which means a super long term trend is bound to follow through again. For the pattern to continue, we would need to see bitcoin at around 18,340 for a complete double bottom to then rally again. Keep an eye out to see this pattern continuation. If we break below this support then we will see the crypto market bleed a lot.
Stay safe and be smart traders.
Stay safe and be smart traders.