Continuation or nah?

in #bitcoin3 years ago

Bitcoin is either putting in a continuation pattern or a massive top, which is it?

If you zoom out at look at the bigger picture with bitcoin you see something very interesting...

You see a large bullish continuation pattern...

Check it out:

image.png

(Source: https://twitter.com/LoyaTheTrader/status/1513176027123658760/photo/1)

The caveat here is that if that $30k area is violated to the downside, this pattern goes out the window and bitcoin likely goes a lot lower...

The bulls need to stake a stand here soon.

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the trendline was lost

everything looks bearish

macro wins again

not for sure a top, but it's not this clean

we ran up to 48.2k

now we 39.2k

we've dropped 9k on btc

everytime I get bullish smacked

price slams even lower

good news doesn't matter