The April decline in BTC is a shakeout and consolidation before growth. This conclusion was reached by analyst and crypto trader Trader Tardigrade (48.6 thousand subscribers in X), analyzing the#BTCchart on a three-day timeframe:
#Bitcoinmoved higher from the breakout and returned to the consolidation range. In this case, if $BTC remains above the lower consolidation boundary, it is SHAKEOUT 🔥
For each pump, starting from the bottom of the cycle in 2022, there is a similar SHAKEOUT.
Soon we may see $BTC 🚀"
The idea is logical, and it has been said many times that the April percentage decline is similar to previous ones in this cycle. Drawing similar structures (consolidation - impulse breakdown - consolidation).
The only thing that confuses us is that such structures cannot be repeated endlessly. And if you listen to the same supporters of the wave theory (which will come in handy here) - according to many, even global, taking into account past cycles, the price of#BTCis in the fifth, final wave of growth before the correction. Or, at best, we are approaching the beginning of this wave.
