TradingShot

BITCOIN It's NOW or NEVER for the rally

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin made a bounced early this week and it appears to be following the bottom formation pattern of my most recent model:


As I showed on that chart, the Falling Wedge of September entered a bottom sequence after its last flush on the 39600 Support and as the blue dashed line held, it formed Higher Lows that broke finally above the Wedge . So far the blue dashed line is holding.

** 2021 fractal vs today **
Now back to today's chart. I've made it on the 3D time-frame for one simple reason. The LMACD and RSI indicators indicate when the bullish break-out might happen. First of all let's acknowledge that the January 2021 - July 2021 fractal is very similar to the September 2021 - January 2022 fractal . Right now the price sits below the Lower Highs trend-line of the bottom sequence (green Rectangle ). A break above these Lower Highs, signaled the start of the new rally in July 2021.

** The LMACD **
At the same time, the LMACD of the two fractals is almost identical. Not only was it similar during the accumulation phases (blue ellipse pattern) of January 2021 and September 2021 with its successive Bearish and Bullish Crosses, but also now. The rally started when the LMACD made the next Bullish Cross. Right now such a Cross is emerging.

** The RSI **
During that bottom formation phase of June - July 2021, the RSI was also on Lower Highs. When those broke, it coincided with the LMACD Bullish Cross and the price Lower High break-out and BTC started its new rally. So far that RSI Lower Highs trend-line is holding but seems a matter of time before it breaks.


Is Bitcoin ahead of a Now or Never move on this Lower Highs trend-line? We will soon find out. But what do you think about this comparison. Does it give you a better long-term perspective? Feel free to share your work and let me know in the comments section!


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