It's been a while since I wrote anything. That's because bitcoin was just unpredictable. I'm a guy who looks at patterns, and lately weird and irrational moves have simply been happening on low timeframes. That's why I preferred to write nothing rather than inadvertently mislead others with misguided analyses.
Now to the point. I think Bitcoin is getting ready for one last rally before the final decline. I infer this from the path it has charted over the past few weeks and from the falling wedge formation (in green), which as you know is a bullish pattern.
If my prediction is correct, we should see an upward movement to the area of $26k. Further increases are likely to be halted by the falling trendline (in red). This, in turn, will complete the formation of a bearish flag pattern and an inverted cup and handle.
I think I don't need to write what will happen next?
But if you really want to see the future, simply move the chart to the left.
This is not financial advice.
Now to the point. I think Bitcoin is getting ready for one last rally before the final decline. I infer this from the path it has charted over the past few weeks and from the falling wedge formation (in green), which as you know is a bullish pattern.
If my prediction is correct, we should see an upward movement to the area of $26k. Further increases are likely to be halted by the falling trendline (in red). This, in turn, will complete the formation of a bearish flag pattern and an inverted cup and handle.
I think I don't need to write what will happen next?
But if you really want to see the future, simply move the chart to the left.
This is not financial advice.
