In this 1W diagram we see that BTC . In particular, during the recent price action, we had a similar move High on June 13, 2022. Almost the same Peak between 5 months period. As this graph shows, Tops of this or shorter period historically were either bottom or top formations.Peaks tend to be associated with trend reversals
previousThe pattern was between January 11th, 2021 and May 17th, 2021 and was a Bull Cycle Top formation. The former was between November 19, 2018, and May 13, 2019 and was the lower formation of a bear cycle. Before this, we had Bull Cycle Top formation from Dec 18, 2017 to Feb 5, 2018 nails. Finally, the bottom of the 2014/15 bearish cycle was formed at the highs of January 12, 2015 – November 2, 2015.
The latter is the pattern most similar to the current pattern (Jun 13 – Nov 07, 2022) as there is a trend line of lower tops (bottoms). Can on November 7th bitcoin From the 2 year Bear cycle or is it just a short term rebound at best like June 13th 2022 and February 5th 2018 nails?Elevation is the moment you change direction and get
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