Steppe57

April 2020 consolidation in reverse?

COINBASE:BTCUSD   بتكوين
Something I recently discovered. If you invert the current timeframe it looks pretty similar to the long consolidation range we had from april to mid-july in 2020. Of course, could just be a coincidence, but the steps are almost identical. With the breakdown we had today, the chances for Bitcoin to drop lower have increased a lot. Only chance would be a strong countermove to trap bears, otherwise I see no reason for this to go up from here, but there is still some time left for bulls to step in. Think a quick drop below 30k would do the trick for the bears.

Be patient and stay safe.
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