Bitcoin Relief Bounce on July 14?
Just minutes before BTC is tanking on a Sunday, I've played around with two fractals and layed them over the current time.
I've taken a fractal from the crash in May 2021 and the crash in December 2021. From the lowest wick to the first bar
of the move to the upside, both periods had 62/63 day bars, more than two months before the relief bounce.
Since the volume is low and the scale of the volatility, I've downscaled the fractal by 50% and layed it over.
Fractal (A) from May 2021 somehow matches nicely the current PA. We'd have a bottom around 26k and a relief bounce
on July 14, until we pump.
Fractal (B) actually would also fit nicely, same date for the bounce, but a lower bottom at around 21k.
Funny enough, both fractals do work with the Descending wedge that I've drawn too... but a bit weird
if the period of 62 day bars would prove to be consistent.
Hey, don't take this seriously, just a play with fractals!
I've taken a fractal from the crash in May 2021 and the crash in December 2021. From the lowest wick to the first bar
of the move to the upside, both periods had 62/63 day bars, more than two months before the relief bounce.
Since the volume is low and the scale of the volatility, I've downscaled the fractal by 50% and layed it over.
Fractal (A) from May 2021 somehow matches nicely the current PA. We'd have a bottom around 26k and a relief bounce
on July 14, until we pump.
Fractal (B) actually would also fit nicely, same date for the bounce, but a lower bottom at around 21k.
Funny enough, both fractals do work with the Descending wedge that I've drawn too... but a bit weird
if the period of 62 day bars would prove to be consistent.
Hey, don't take this seriously, just a play with fractals!
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