BTC has recently crashed to the 60k zone for the first time after making a new ATH. Is the bull season over?

If you'll take a look at the chart, the answer is a straight "NO." Here's my 2 cents.

1. The 1M and 1W chart has been consistent bullish. A double bottom has long been formed. Upside target is 107k.

The only way to invalidate this pattern is if BTC drops to as far as the 16k zone. That's too deep, and technically impossible at the moment.

2. Yup, the recent slump has invalidated the bullish pennant that I've been talking about a few days ago. But don't fret! Candles have transitioned and formed into a bullish rectangle, which is an uptrend continuation pattern. Since price action is forming support along the resistance zone, a rally to the upside usually follows once the necessary support is formed.

The only way to invalidate this bullish formation is if BTC closes a daily candle below 61.9k. It never closed below that zone. It hastily bounced and closed at 64k, confirming this bullish pattern.

FOLLOW for more chart updates. Comment your token, I will try chart them.

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