Possible repeating pattern in Bitcoin here.
If so, a possible stop near the upper white line as it did previously with a very slightly higher 2nd low, then start moving up slowly after finding its lows, and finally spike up and find a new high.
Must not lose the thick red line around 49k if we make a lower low.
Volume needs to come back in and start flipping green vs the present rising red volume being seen on weekly chart now.
This could take upwards of 6 months or longer to play out.
If so, a possible stop near the upper white line as it did previously with a very slightly higher 2nd low, then start moving up slowly after finding its lows, and finally spike up and find a new high.
Must not lose the thick red line around 49k if we make a lower low.
Volume needs to come back in and start flipping green vs the present rising red volume being seen on weekly chart now.
This could take upwards of 6 months or longer to play out.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.