BTC/USD - 1M - Potential cycle top scenario
Updated
Duplicated a single blue curve trend line a few times on the monthly, to create this messy chart!
'BTC Log Growth Curve' indicator top (red band), meets my blue curve tops/collisions. This can also be seen during previous market tops on this same chart (assuming the blue curves are legit).
BTC cycle top looking to be around 152K. Blimey.
Bull flag.
White channel (flag) measured move already played out.
Yellow pole's measured move taps the
97K area.
Red box showing best case sell zone.
Green box showing worst case retrace zone, which also taps the 21EMA.
December still looking like go-time.
'BTC Log Growth Curve' indicator top (red band), meets my blue curve tops/collisions. This can also be seen during previous market tops on this same chart (assuming the blue curves are legit).
BTC cycle top looking to be around 152K. Blimey.
Bull flag.
White channel (flag) measured move already played out.
Yellow pole's measured move taps the
97K area.Red box showing best case sell zone.
Green box showing worst case retrace zone, which also taps the 21EMA.
December still looking like go-time.
Note
"Worst case retrace zone" tapped. Let's hope it holds.
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.