As we can see in the chart, on December 24th, Bitcoin's price reached its climax, moving cleanly without further structures to follow. Since then, the price has formed micro-structures and is now attempting to create a much larger one that would allow it to advance—a megaphone pattern (D).
If this megaphone were completed with an upward move today, it could catapult the price above $149K. With each passing day, the potential price target increases. However, to form the full megaphone, a base had to be established, which is what we are seeing now. On December 24th, a structure was formed that facilitates a return to the $107K level and also helps determine the price range where the megaphone's base (C) could be finalized, between $86K and $77.6K.
Today, a bull flag (B) has formed within a falling wedge (A), and the price movements align with this pattern, which aims to return to the apex before continuing the upward move. However, even if the price surges due to the bull flag breakout, I believe it might retrace again to continue building the base of the megaphone, which is quite broad.
If this megaphone were completed with an upward move today, it could catapult the price above $149K. With each passing day, the potential price target increases. However, to form the full megaphone, a base had to be established, which is what we are seeing now. On December 24th, a structure was formed that facilitates a return to the $107K level and also helps determine the price range where the megaphone's base (C) could be finalized, between $86K and $77.6K.
Today, a bull flag (B) has formed within a falling wedge (A), and the price movements align with this pattern, which aims to return to the apex before continuing the upward move. However, even if the price surges due to the bull flag breakout, I believe it might retrace again to continue building the base of the megaphone, which is quite broad.
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X pattern invalidated, which is good because we can see the completion of the megaphone floor, now and not wait for another month. I assume that a catalyst will make the price rebound because 
MSTR and others already have very strong structures 
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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.