Sure looks like we are retesting this large weekly falling wedge like structure. If we are, it looks probable that we will soon see a BTC spike resulting in the completion of our wedge structure's testing and a subsequent move up against BTC if we hold and bounce.
Comment:
Looking through different lenses one could argue (with a certain bias, of course) that we have, in fact seen our retest. Could this be giving us a clue that todays Fed meeting is less hawkish than the markets are anticipating. BTC likes to move in the direction of greatest pain inflicted and the bearish sentiment is rampant.
Comment:
Something I can't stop pondering: Very few were aware of the last cyclical top when we were in it. Most of the sentiment was that we were moving higher yet. In this cycle, almost all of the metrics and models have failed in one way or another to predict BTC's price action. So, it just would seem so peculiar to me if, all of the sudden, the metrics and models began to accurately predict BTC's price action, now. This cycle is different from any other cycle that much is clear...