Looks like a liquidity grab Might go bck into the buy liquidity before heading lower
Lets see of Wyckoff plays out, all steps seem to be in line Notes to self
Possible short if everybody decided to panic because of an odd reason. Breaking the trendline for real might cause some problems
0.5 fib bounce potential H&S pattern Miner pools are stopping dumping bitcoins SOPR got reset to 0 Grayscale premium went negative All while adoption is right around the corner/ already happening Waiting for confirmation and a retest after breaking out is prudent.
Possible short trade only looking at technicals, AB=CD pattern. Bounced off the 0.618 fib level and previous resistance TP 45k note: fundamentals are still bullish
Possible retracement after the beautiful rise is healthy. Head and Shoulders if forming, possible retracement to 43k
big cup and handle pattern forming might play out with a TP of 52k.
I don't know whether or not this pattern is still being traded. Triangle breakdown A double Fibonacci 0.618 retracement in a triangle looks very suspicious. I am very bullish but there could be some stop loss hunting in the triangle when it is breaking down, in contrast to consensus. Meaning it won't reach below 30k as it usually goes after a triangle, but still...
More institutions just keep buying, fiat money still gets debased, more high net worth individuals step in, government stimulus incoming, newly imposed regulations that provide clarity. Currently, we are in a bull run and just taking a pause in the form of a triangle. The longer the pause the bigger the breakout.
Breaking out of a triangle. Driven by high demand and easing of regulations in the crypto space.
A possible pullback to previous Fibonacci levels. Seems to be in confluence with previous resistance zones
A small pullback seems logical to occur after a big swing however, markets are irrational