For personal reference. not trading advice and not a financial advisor
Did want to put a caution in here and add a reverse fractal to my last idea.
To be clear, reversal patterns do not indicate immediate pumps to price discovery. I am very long BTC but borrowing again from a short analyst here, there is VERY little in the way of strong support lines on the BTC/USD charts the past month or two. We went from 41k to 31k to like....62k down to 51.5k back up to 62 and now down to 47k most recently.
BTC is overdue for a retest of support at the prior low (51.5K) IMHO in order to confirm support and move to healthier highs. A drop to 51K in a day or two would not invalidate the bump and run reversal pattern. In fact, it would actually confir support for the reversal RIGHT around 51.5k (which is again i think the line of support we want to confirm/retest) nd then take off from there to battle its ATH.
IF it drops below that 51.5k support line and invalidates the bump and run reversal...which i highly doubt. only then would i concede that we are probably looking at a 2013 super cycle pattern. But no I guarantee this is not the top and those saying it is are perpetuating fud to benefit their temporary short positions.
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