Would be crazy if this fractal plays out like last time. Timeframes are a bit different but market structure basically is the same like back in Summer 2019. Both corrections came after setting a new all time high.
Comment
⋅
Nasty wick to the downside which touched the previous cycles´ all-time high at 56500 sats, exactly like in September 2019. If the daily candle closes inside the triangle (>62000 sats) the fractal is still valid. I would only go long here if it closes above the upper trendline (>68000 sats).
Comment
⋅
We got a clear close below the lower trendline. So this idea is not valid anymore. We might be headed towards weekly support levels around 52000 Satoshis.