Fractal Symmetrie in BTC taking place
Hello fellow traders,
I know it's hard to make money in an ongoing bear market as we are currently facing it in BTC, but if you know whats going on, it's way easier. Let me guide you through the chart.
As you can see, after we hit our current low at 5.8k BTC tried to rally up to build out a double top formation at 11.5 that sent it way below 9k.
Funnily this happened in a falling wedge style that could lead one to think of a bullish reversal.
BTC broke out of that wedge but did not have the power to reverse fully just to build out a new double top formation at around 9k, and build out a falling wedge again.
I'm now assuming that BTC is playing out a symmetrical pattern that i highlighted with arrows and numbers. If this plays out, it will send BTC lower than the point it was when the pattern started, this time most likely with more power than last time.
I expect it to hit at least 6.8k, but don't take this as trading advise, it's just an idea.
Cheers
I know it's hard to make money in an ongoing bear market as we are currently facing it in BTC, but if you know whats going on, it's way easier. Let me guide you through the chart.
As you can see, after we hit our current low at 5.8k BTC tried to rally up to build out a double top formation at 11.5 that sent it way below 9k.
Funnily this happened in a falling wedge style that could lead one to think of a bullish reversal.
BTC broke out of that wedge but did not have the power to reverse fully just to build out a new double top formation at around 9k, and build out a falling wedge again.
I'm now assuming that BTC is playing out a symmetrical pattern that i highlighted with arrows and numbers. If this plays out, it will send BTC lower than the point it was when the pattern started, this time most likely with more power than last time.
I expect it to hit at least 6.8k, but don't take this as trading advise, it's just an idea.
Cheers
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