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hnizdos

Bottom is in! Bitcoin hitting 50k in April 2023

Long
Bitcoin (COINBASE:BTCUSD)  
hnizdos Updated   
COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Bullish Patterns bullrun halving halving2024 bottomisin bottom
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trendanalysis chartpattern bullish bullrun halving halving2024 bottomisin bottom
If we look in the previous bull run, there are few main points:
  • After the breakout of the falling price and weekly RSI resistance, it took BTC approximately 160 days to make a second peak at 0.618 fibo level
  • Such a movement would take us to about 50k at around April 2023
  • There are actually many similarities - mainly the big channel that the btc stays in the whole time, breaking out only around halving
  • Also, in the previous run, breakout of the falling price and RSI weekly resistance accured at the same time, same as now
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