Inverted logarithmic scale BTC chart shows that we are currently testing descending channel. In previous cycle we have missed 0.786 slightly what suggest that there are still strong conditions for "lower" prices <30k. Current cycle setup forms left hand translation which might end with massive fall ( rise in price ) to 58-53k level. Expected timing for that move to happen ( trough ) indicates 23-31 March, ideally around 27'th.
Violation of 0.786 @ 35850 will invalidate that analysis.
For now this type of conditions are not indicating any bigger selloff but due to cyclic behavior of BTC by end of the 4 year cycle ( retracement to 0.702 after initial 45%+ drop ) it is more and more probable.
Violation of 0.786 @ 35850 will invalidate that analysis.
For now this type of conditions are not indicating any bigger selloff but due to cyclic behavior of BTC by end of the 4 year cycle ( retracement to 0.702 after initial 45%+ drop ) it is more and more probable.