Bitcoin is likely moving in to the beginning of a bearish cycle.
I'm not saying this is immediate, we first need to see altseason - however, if BTC increases it may not go any higher than the last high of $123k. We could easily see the price hover around this zone with a few small increases and decreases for the next few weeks as alts make their respective moves.
I have been talking about the 2021 fractal for a couple of months, where BTC took its time to correct and then made another ATH which was only slightly higher.
We already see a similar pattern playing out in the monthly timeframe if we overlay bars pattern from 2021:
Although Bonce zone 3 may only be in several months, these are the major support zones where BTC could bounce from. Ideal for a swing:
____________________
BTCUSDT
I'm not saying this is immediate, we first need to see altseason - however, if BTC increases it may not go any higher than the last high of $123k. We could easily see the price hover around this zone with a few small increases and decreases for the next few weeks as alts make their respective moves.
I have been talking about the 2021 fractal for a couple of months, where BTC took its time to correct and then made another ATH which was only slightly higher.
We already see a similar pattern playing out in the monthly timeframe if we overlay bars pattern from 2021:
Although Bonce zone 3 may only be in several months, these are the major support zones where BTC could bounce from. Ideal for a swing:
____________________
BTCUSDT 
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Discord Server
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
discord.gg/xHJRka3
Cryptocheck Website
thecryptocheck.com
SoftQuant Website
softquant.io
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.