#Bitcoin in a rare 5-day volatility squeeze.
Only the 3rd in the last 5 years.
Price above neutral line and RSI above 50.
Higher probability this resolves to the upside.
I know it's unpopular now, but I still see rhyming with #Bitcoin's 2011-2013 structure.
Just much slower than I thought. Days turned to weeks. Weeks to months.
What happened during the 1st correction, happened during the 2nd.
I remain bullish within our larger impulse. 1/
The 3k and 4k bears that were calling for 1k
are now calling for 20k.
They obviously never learned.
I think the Operator will punish them again real soon. 😈
Going deeper with the comparison of the current #Bitcoin correction vs 2019-2020. Similarities are remarkable.
I've adjusted it slightly and added an inverse h&s idea - hopefully macro factors don't interfere too much. Still need volume to flip into the green.
Thoughts?
Our year-long #BTC range divided into 2W sub-ranges.
Closing outside one has granted weeks of price action in the next.
Yesterday's 2W close above 40K suggests previous close was a deviation.
Current 2W key in determining which sub-range we'll be spending the next few weeks.