We could still see a monthly wick up to an area between 82.5k and 100k, drawing bulls in, prior to the March candle close, giving confirmation of new ATHs, suggesting a prolonged bull run.
The monthly candle for February still closed at the exact same high as the October and November 2021 monthly candle close and open.
If the March candle closes below ~61350, I would start considering that Bitcoin is topping out and may form a monthly double top.
DXY moving up towards its September 2022 monthly high, around 112-115 would lend confluence to this idea, as Bitcoin and DXY are macro negatively correlated. Have been talking about this over the last year or so.
Note this could happen faster than drawn if DXY turns up hard over the next month or two; getting above 112-115.
The monthly candle for February still closed at the exact same high as the October and November 2021 monthly candle close and open.
If the March candle closes below ~61350, I would start considering that Bitcoin is topping out and may form a monthly double top.
DXY moving up towards its September 2022 monthly high, around 112-115 would lend confluence to this idea, as Bitcoin and DXY are macro negatively correlated. Have been talking about this over the last year or so.
Note this could happen faster than drawn if DXY turns up hard over the next month or two; getting above 112-115.