Based on the previous cycle when BTC broke out of the big symmetrical triangle in 2020 it came back and retest the trend line of the triangle and after that it was a support rather than resistance. After that the price went parabolic and went 560% up.
What we are experiencing today can be vieuwed as similar what happend a year ago. We had a descending triangle pattern formed this year and since October of 2021 we broke out of that triangle without a retest of the trend line.
On 29 November The bitcoin price took a big dump but it stopped right on the trend line of the ascending triangle and it bounced up ever since. it is now seen as support instead of resistance. So if history can repeat itself the price may get a second pump of almost 560% up that will bring the bitcoin price to prices above 150k by July 2022.
I also took a look at the levels where the fear and greed index was low.
The dates when the fear and greed index was at levels of 15%;
- 06/12/2021 Today
- May 2021
- The corona crash March 2020
- December 2018
unfortunately i could not find other data before 2018 on the fear and greed index but these were the most known one's.
Update will be followed in the future:
What we are experiencing today can be vieuwed as similar what happend a year ago. We had a descending triangle pattern formed this year and since October of 2021 we broke out of that triangle without a retest of the trend line.
On 29 November The bitcoin price took a big dump but it stopped right on the trend line of the ascending triangle and it bounced up ever since. it is now seen as support instead of resistance. So if history can repeat itself the price may get a second pump of almost 560% up that will bring the bitcoin price to prices above 150k by July 2022.
I also took a look at the levels where the fear and greed index was low.
The dates when the fear and greed index was at levels of 15%;
- 06/12/2021 Today
- May 2021
- The corona crash March 2020
- December 2018
unfortunately i could not find other data before 2018 on the fear and greed index but these were the most known one's.
Update will be followed in the future: