Bitcoin did a bump and run pattern in May to July. It passed its downward resistance line and then fell for many days down where the resistance line acted as support. The support line was at about $29.2 K. Bitcoin reached the low and the apex of the blue triangle on July 20th at $29296, then went 2.35 fold in 3 months and 21 days to $69000 on Nov 10th.
Bitcoin is once again the past few weeks doing a bump and run reversal pattern. The downward resistance line has recently been broken; Bitcoin has been falling for a few days since where the resistance line is acting as support. The support line is at $42K. The apex of this blue triangle is on Monday, Jan 10th. Will Bitcoin once again go down the next 6 days to the apex of this blue triangle then do a massive move to the upside like it did from July to Nov? If it does, then 2.35 x $42000 is about $99000 by 3 months, and 21 days from Jan 10th or by May 1st. Time will tell if this pattern plays out again similarly.
Bitcoin is once again the past few weeks doing a bump and run reversal pattern. The downward resistance line has recently been broken; Bitcoin has been falling for a few days since where the resistance line is acting as support. The support line is at $42K. The apex of this blue triangle is on Monday, Jan 10th. Will Bitcoin once again go down the next 6 days to the apex of this blue triangle then do a massive move to the upside like it did from July to Nov? If it does, then 2.35 x $42000 is about $99000 by 3 months, and 21 days from Jan 10th or by May 1st. Time will tell if this pattern plays out again similarly.