If historical patterns serve as a guide, we consistently observe the formation of a rounding bottom pattern on BTC preceding each bull run.
Presently, it appears we are on the brink of significant BTC movements this year. Notably, a critical support level indicated on the chart stands at 59k, extrapolated from historical data.
The target for the rounding bottom formation is distinctly delineated on the chart. This post will be continuously updated in a timely manner.
Do share your insights regarding this pattern.
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3 weeks candle show us clearer picture and there we identify an important horizontal line.
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The support to watch for still remain $59000, we keep our attention on it.
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Let see how this market behave, things looking good for now.
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Anticipating potential move in this way.
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We need to monitor the 68k area closely. If the price breaks above it, we can expect a significant increase in volume, signaling the start of a rally.
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Just as expected.
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This chart showcase our immediate bullish target after break of 68k level
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Still very much as expected, I will look into BTC today for an extensive update. Stay tune
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Nothing change on our view, still very same. BTC consolidations and accumulation continue towards the halving event.
Thanks for your excellent work. I've notice that this chart is a different scenario to your other BTC chart titled "Deciphering Bitcoin's potential Next Moves" – it has BTC falling to ~36K ahead of a ~100k target. Why has your thesis changed? Thank you.
weslad
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@chrisdigi, Currently, BTC is undergoing an extensive wave 3. In the analysis previously cited, we suggested that BTC would conclude wave 3 around 69k. However, as the price has surpassed that level, we believe that perspective has been revised. At present, let's observe the duration of wave 3 and its potential extent.
@Vanillasagna, thanks for sharing your idea with us.
simpsonepic1a
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ETF and Halving = the biggest bull run in history all records will be broken.If you sell you will never be able to buy back in lower on this run...15% drops now not 30%?