EW: BTC Expanding Triangle ABCDE Potential macro scenarioEW: BTC Expanding Triangle ABCDE Potential scenario
On the 12H timeframe, an intriguing scenario has emerged. In several instances, BTC has fallen short of the expected minimum and maximum levels within an "expanding triangle" pattern, suggesting a hidden structure.
By focusing analysis on points where reLOW and reHIGH factually occurred, we can observed ABCDE structure and hence another potential ABC swing, up to the level of Golden pocket.
Arguments:
- At the 70k level, there's an immense volume of sell orders, while indicators like MFI, CVD, and Footprints show a decline in long momentum.
- Simultaneously, there is strong bullish sentiment for one more swing up. However, it is unlikely that another swing would break through the resistance above 70-75k.
- The failure to break 70-75k level could lead to a drop below 40k, where long holders are positioned. Once these positions are liquidated, the path to 100k would be open.
