I thought this was a natural rebound off the bottom of the downtrend, however on a closer look, BTC appears to be going through shock waves.
While I haven't been trading crypto all that long, I would be hard pressed to believe that this pattern is in any way 'natural'.
The top chart starts just before Feb 6th , and the bottom chart is the last 2 complete 'waves', + the half that we are currently in.
Zoom in to 5 minute candles on your own charts and the sharpness of the repeated pattern really comes out.
Measuring the time between each of the bottoms of these waves, we can see that they are roughly, in hours:
3, 6, 12, 18, 28, 52 hours apart.
Plenty of room for speculation, but in the mean time, I'm swing trading these things.
You don't want my advice. This is not trading advice. This disclaimer isn't even advice.
This is NOT trading advice! =)
Yep! Got my finger on the trigger for when this pattern breaks.
To me this looks like whales (and/or financial institutions?) deliberately flattening out the volatility to either create a newer solid bottom, or prepare for some other big-boy exercise.
We'll see how long it lasts!