This chart shows the three most similar setups in BTCUSD from the past year. Many people are pretty bearish right now and looking for retest of $315-$365.
The problem I see is that people are forgetting that we have transitioned from a sideways bear market to a bull market. In that case, you should probably assume an upward bias when comparing and applying past fractals to now.
If I am right, we will chop a bit in the current range this week, then resume upward movement toward our $460 resistance zone, which will eventually become support.
The problem I see is that people are forgetting that we have transitioned from a sideways bear market to a bull market. In that case, you should probably assume an upward bias when comparing and applying past fractals to now.
If I am right, we will chop a bit in the current range this week, then resume upward movement toward our $460 resistance zone, which will eventually become support.