Seeing the forest for the trees
Bitcoin is making another predictable move over the last few weeks. This is the 3rd major wave up with same basic pattern. Everything so far is going according to plan. As you can see from the markers, each move has been fairly predictable. This current move has been shorter than the previous, suggesting the move up may be sooner than the previous consolidation. Both the previous two patterns broke below support on the daily, got rejected and then moved up. I suspect we will see a first attempt to move up and see our first rejection before finally moving up to test the high again.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.