Watching BTC to see how we react off of this old channel top again...(If we drop!) Critical Breakout point. Should see solid support in green zone. We could still truncate into middle, and capitulation or more down is still a real threat until we are confirmed Bull Market. WE ARE SO CLOSE!
Which arrow do you think is coming?
We are at an impasse yet again... Dump from here? $10k then dump? Test $6.5 again then Up? Or just straight BOOM? Seems like most are wondering the same thing. These next few weeks could get real aggressive.
When I got to thinking about the Wyckoff Events, I thought about this as a possibility most are not considering (where April's low was just a Secondary Test). Complete Theory but we will know soon enough. Keep an eye on the resistance areas in case we start pulling back.
Here's an interesting perspective of BTC total movement over the years displayed in a Pitchfork Channel. Lines up nicely and could provide future insight to price movement if it holds true. Also nice for Macro wave analysis.