In my post on May 8 I identified a fractal shaping similar to early April BTC epic reversal, see related ideas bellow this post, it is still in play for two weeks; now after the second week and having more data the comparison is easier as we are close to the end of fractal. Below is the 1D chart from early April where you can better see the similarities with current price action.
-Due to fractal if it continues the pattern, in a few days the downside move stops and sideways action should turn into a sharp upside.
-At this time, price is sitting on a strong support level.
-Market sentiment still seems positive in favor of this idea.
-On the down side, bulls may be exhausted or confused.
Please let me know your opinion and If you like the idea or this work, please "like" it. I will update this post.
-Due to fractal if it continues the pattern, in a few days the downside move stops and sideways action should turn into a sharp upside.
-At this time, price is sitting on a strong support level.
-Market sentiment still seems positive in favor of this idea.
-On the down side, bulls may be exhausted or confused.
Please let me know your opinion and If you like the idea or this work, please "like" it. I will update this post.
Comment:
Ok, still trend is the same and the pattern is in progress. The difference with early April is that now the bears are aware of trap ! and are more cautious not to be engaged in short squeeze, so end of this scenario is playing in slow motion before a trigger fired.
Comment:
this post of fractals comparison is not complete, a more accurate version is here in this post:
