On chart we can see:
- INVERTED
- LOG SCALE
bitcoin chart with cycle analysis applied.
Starting from November we can see that we were holding ascending channel ( descending in reality ). Currently we are very close to a moment when we can potentially see bigger move. Pennant is breaking to the down side ( in reality up side ), where technical target for this breakout should be in ~55k range.
Cycle based on inverted price chart looks weak ( bullish ) and we are still in corrective period till end of the month ( 23-30 ). I'm expecting sharp move to 55-53k in current cycle. From the beginning of new month we should see left-hand translation, maybe even retest of pennant and last final impulse to 55-58k range.
I'm expecting that altcoin season should start together with impulse to 55k or from 55k, so with the beginning of new month/cycle
- INVERTED
- LOG SCALE
bitcoin chart with cycle analysis applied.
Starting from November we can see that we were holding ascending channel ( descending in reality ). Currently we are very close to a moment when we can potentially see bigger move. Pennant is breaking to the down side ( in reality up side ), where technical target for this breakout should be in ~55k range.
Cycle based on inverted price chart looks weak ( bullish ) and we are still in corrective period till end of the month ( 23-30 ). I'm expecting sharp move to 55-53k in current cycle. From the beginning of new month we should see left-hand translation, maybe even retest of pennant and last final impulse to 55-58k range.
I'm expecting that altcoin season should start together with impulse to 55k or from 55k, so with the beginning of new month/cycle