Seems like the most likely course is a retrace to create a new iHS to propel us into the halvening.
Currently the major level at 9500 is being tapped for the second time. A third touch is more likely to break.
History doesn't repeat itself - but it often rhymes.
I've seen this pattern before - looks like this is distribution in a similar layout to the 3D top from last year.
BTC is bouncing along the support, which I expect to fail in the next few days.
I'll be waiting to btfd in the 8-9ks.
$SPY "Glass" Edition
- Here are the levels I'm interested in
- I'll play the range between $260-280 until it breaks
- Expecting a dump in March
- Still needs more development before clear continuation vs. distribution.
First drawn Jan 31 (twitter.com) and appears to be playing out.
With the extreme bullish setup on ETH, I expect bitcoin to do the same.
In my opinion we have seen the bottom of this market cycle until proven otherwise.
Seems like there is an algo at work here. So far I've identified it repeating at least 3 times, and it seems to be repeating again. This is the second after a down move, lets see if it works to go up as it has the last three times.