Bitcoin Fractal Playing Out On 4H (June 3rd-5th Breakout)
The cornerstone of this chart is the ascending support which was tested today. It has been tested multiple times in the past and has held strongly over 4-8H periods.
The green zones are bullish zones, the red zones are bearish zones. Bullish zones begin with a test of the ascending support and culminate in a breakout. Bearish zones begin with a lower closed high and end with a closed retest of the ascending soft support zone.
The aqua triangles are bull pendants. If this pattern continues to play out, we will retrace up to the top of the next aqua pendant (~8,800) within a matter of days, consolidate at ~8,600 and breakout above 9,000 on June 3rd 4th or 5th.
The green zones are bullish zones, the red zones are bearish zones. Bullish zones begin with a test of the ascending support and culminate in a breakout. Bearish zones begin with a lower closed high and end with a closed retest of the ascending soft support zone.
The aqua triangles are bull pendants. If this pattern continues to play out, we will retrace up to the top of the next aqua pendant (~8,800) within a matter of days, consolidate at ~8,600 and breakout above 9,000 on June 3rd 4th or 5th.
Comment:
I consider this chart **invalidated**
I now think there is a big chance we will see more downside.