Long

#Bitcoin updated charts. Pullback from 52k levels is perfect.

Updated

I had to update the head to a bit lower cause of this fall adjustment.
but its fitting perfectly as per the pull back which is within this BULL channel.
We are still in Bullish Channel.

Note

Bitcoin RSI is hanging at around 33 Last time we hit the lowest RSI of around 23 was on the 18th day of May 2021. If we zoom out and see 18th may 2021 the candle and the wick was exactly similar however the following day of 18th we had a major pullback followed by consolidation and later a we tested the same 30k to 28k levels 6 Times, yes 6 times in the next 60 days from that 18th May. After the 61st day we started going back in the bullish trend and made our way to highs, whereby the highs till new ATH were almost 130% rise from 30k levels. This is just my thoughts on what I have seen on the basis of the Historical pattern. Having said that this time around things might end up differently. Fast forwarding to current timeline, if we test that 23 RSI that means we might retest that 42k a few more times before we start making any up-moves, as a result this will cause in the lengthening of the bull cycle and the bull period might be delayed and we will start moving next year from end of Jan - Feb onwards.
If we repeat the historical patterns then there is a 0.5 probability that this may play-out. After going thru the charts in detail, if HISTORY REPETE then there is a probability we might test 42k a few times before the RSI bottoms out entirely to make that 150% up-move, if 42k is bottom and we go into that 40 to 60 day re test zones then we end up seeing 150% up-move from 40k levels which is 98k bitcoin approximately.

btgraph

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