LONG WAY AHEAD

14 במאי 2022

Since Bitcoin broke the 3rd weekly parabola in november, entire market is on the process of correcting the leg from 3k to 65k.

Symmetries are fun to watch but I will not trade this exactly to the tick, if it gives me the price pattern and pa Im looking at as an accumulation I will take it, im just showing this for pure curiosity on market fractals.


It does not matter if it end up being a correction of 80 bars instead of 55, Its clear that an accumulation is needed so we are still early in the correction cycle, we are at the first bear trend that takes always place after a weekly parabola trend that has held a weekly bull trend breaks.

A correction that ends with an accumulation of months, before any retest of previous higs, and that we have not seen yet.



Imo will take more than a year, probly 2, before any real bullishness that takes the entire market to last ATH or new highs, this is a weekly chart, weekly patterns take months or even years to take form, and currently chart is not showing any reversal pa, just corrective one, so until we see an accumulation at blue box area, not looking to swing long to highs.


This year will be corrective/accumulative imo, maybe 2023 should start showing some good signs, but time will tell.

Good Luck.