Bitcoin / BTCUSD on the 1month chart has the RSI consolidating over its MA line but under a Rising Resistance.
We have had the same kind of consolidation in the last two Cycles while the price was inside the Arc pattern, under the Falling Resistance of the Bear Cycle.
After that broke, a Channel Up took the price to the new Bull Cycle High.
By connecting each Cycle High with a dashed line we reach the following conclusion: Every line is on -50% degree angle than the previous.
According to that, we can even see $200k as a new Cycle peak.
But this kind of charting would be too easy, wouldn't it?
Follow us, like the idea and leave a comment below!!
We have had the same kind of consolidation in the last two Cycles while the price was inside the Arc pattern, under the Falling Resistance of the Bear Cycle.
After that broke, a Channel Up took the price to the new Bull Cycle High.
By connecting each Cycle High with a dashed line we reach the following conclusion: Every line is on -50% degree angle than the previous.
According to that, we can even see $200k as a new Cycle peak.
But this kind of charting would be too easy, wouldn't it?
Follow us, like the idea and leave a comment below!!
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TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.