Bitcoin parabolic triangle fractal
So based on this, if the market fails to break the 11.000ish, we could be testing the 10800ish again. It will most likely break if we test it again. If that one breaks, an will get triggered with a target around 10500. This is a very important zone, the 10400/600, because if this one breaks, we will most likely drop below the 10K again with a target around 9800/9600. Even if this happens, it's still just a very small correction from the huge rally we had so far. So when won't be TOO big, it will at first just be a correction.
If we do break the 11200/300, i don't see a real target, but the 13kish level will probably be a big . I mentioned a few times, that i don't see any real resistances the past 2 months, because they have no meaning during a parabolic move. I do however think the 13K will be a big one.
Just caught an algo pattern on bitcoin , started to show it 4 hours ago and kept updating it. To me, this shows where most of the in Bitcoin is coming from.
The weak breakout just now from the small , is a bit strange. Was a clean brekaout but instead of rally, distribution.
So, think this is something to watch now. The other one was just before the Sat dump
So this means, waiting for an hour or so to see how it plays out
If we see it really break now, increase while dropping a bit, think there is no way around it then
And some more updates in between of course :) posted it in my public channel just a few min before it dumped.
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Bulls still holding it, still a basic bounce from a good support level. So we could still see it as a standard pullback.
However, i remember a few days ago (think Sat), at the exact high, alts were pumping only a few minutes before Bitcoin made that 900 point dump. So a ton of mixed signals now
But make not mistake, there will come a moment where we will see a huge profit taking dump. This rally feels as if people who continue to add during consolidations. So average price rises as well because of that. So stops are getting higher as well. Just look back at the ATH, where those 3k/9k drops were happening, shaking out so many people.
When it will happen? Wish i could tell you. Will it happen at some point, 99.9999% sure ;)
As mentioned, the 13Kish zone has been my only resistance level i have seen since the parabolic move started. Small rejection so far. But it could turn out into a significant zone,at least short term
Bitcoin gained nearly 400% from the very bottom 3156 USDT on Binance.
Now, after several attempts to break levels and succeeding to do so,
we are approaching second time to the main resistance zone 11700$.
That is the point which can't be crossed in a single breathe.
As pushes towards 11700$, will experience huge pressure on that level, therefore, 11.700$ is mathematically justified peak.
Bitcoin will behave like " BTC attempts to make higher high and drop " then rebound from 9300$ range.
We've seen nice reaction of support levels, starting from 5200$ onwards time has come for bigger more significant correction in range 30%.
Walls aren't spoofed, price action went parabolic, but will experience declination.
However, now, we are in very specific and non optimistic Bitcoin scenario (temporary strong bearish ), then further push which will trigger alts and allow them to grow.
Since i decided to publish my ideas 2 weeks ago to help others because i thought its the time for btc and i am really impressed for how accurate they are one after another.
And now like i said many times before that we are in strong wave 3 since from 7800 this wave should take a break between 12/12500
Now btc hit 12900
I also published another idea for classic bearish div on daily which is going to confirm the break and retrace for a bout a week range
But i still calling for the strong support according to my previous idea between 10600/10800 and 11000/11200 area is going to be the area from where btc should not break it after we hit 12/12500 and this is very important to resume climbing towards previous ATH at least for now and if it didn't happen expect the blood
Just in case we got the reverse I expect the behavior for next wave to be similar to the last one from 7800 or even sharper.
Hope this help