LIVE⚡️ What is next for BITCOIN❓
📈 Today #bitcoin is rising by 4% trying to consolidate above $72K and reach new ATH. . Most of #crypto is in green zone, altcoins are growing some of them even faster than Bitcoin.
❓So, what is next for #BTC ? Will it be rejected again from this level like a week ago or it is finally the way up?
💡I want to share 4 ideas.
1️⃣ Now $BTC is trying to consolidate above upper border of huge bullish flag pattern on 1D timeframe which I have been writing about(see picture below👇).
📈If it consolidates then there would be most probably retest attempts and then the move back.
📉 If consolidation will not be successful the price will continue the move inside of triangle.
2️⃣ Do you believe that history repeats itself? I believe that it tends to do so. I especially connected the charts from today and from 2020 (whent BTC broke that ATH) together so to see the similarity(see picture below👇). And it is really amazing. $BTC is making the same bullish flag pattern. The same 2 attempts to go down. But what is really amazing look at MACD and RSI indicators - they are like a twins. It is really fantastic🔥.
3️⃣Reaching $72K $BTC liquidated a lot of shorts, however there are still much more liquidity
above(see picture below👇) what shows that there is still some potential in upward move.
4️⃣ Interesting fact. All previous times when BTC closed two 1 month candles above upper band of Bollinger Bands it growed by 100% average during 3 following months(see picture below👇). Now two 1 months candles closed above. Will the patter be repeated?
🤔 You can make conclusions for yourself but I think that there is a good chance that history repeats itself. Especially when halving is so near.
p.s as I am always saying there are no 100% situations in crypto, so it is always good to take profit from time to time and manage your risks.
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Trade smart,
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