Bitcoin (BTC): Showing Similar Price Action from February
As we approach the end of the month and a very important next few weeks regarding Earnings Reports and FOMC meeting, it is going to be a true testament of strength for Q2.
Right now if we are simply comparing market structure from just January 24th to now, the similarities are uncanny.
Something I found most intriguing is that it bounced off support on January 24th and then proceeded to have a false breakout and retest support on February 24th.
What are the chances it lands on the exact same day?
Now if we compare it to now, we are seeing almost the exact same structure. It bounces off support on February 24th and has shown the same breakout at roughly the same time of the month.
Now the question is will it play out the same way and show a false break, then retest support on April 23th-24th?
The signal will be the breakdown from here and the target would be $37,500.
Right now if we are simply comparing market structure from just January 24th to now, the similarities are uncanny.
Something I found most intriguing is that it bounced off support on January 24th and then proceeded to have a false breakout and retest support on February 24th.
What are the chances it lands on the exact same day?
Now if we compare it to now, we are seeing almost the exact same structure. It bounces off support on February 24th and has shown the same breakout at roughly the same time of the month.
Now the question is will it play out the same way and show a false break, then retest support on April 23th-24th?
The signal will be the breakdown from here and the target would be $37,500.
Comment:
It is remarkable how accurate this is actually turning out. I would say at this point 37.5k is written in the algos. Hope everyone used this analysis and didn't fall for the moon boys.
Comment:
Target finally reached! Thanks for playing
