So everyone can agree that Bitcoin is in this Wedge lately forming lower highs (12k, 10k) and higher lows (6k, 6.5k, 7k).
It's coming to that point where it NEEDS TO MAKE A DECISION.
I did an analysis before and noticed in the first week of every month in 2018 we've seen a major directional change. After further analysis, I narrowed it down close to the 6th of every month there has been a major momentum change on the Bitcoin #chart.
Every other month has been another hill on the Bitcoin roller coaster. January we experienced the hardest crash, from 17k down to 6k.
In February we saw the bounce from 6k back up to 12k.
March from 12k down to 6.5k.
April 6.5k to 10k.
May from 10k down to 7k.
Based on the previous chart pattern, we can intelligently guess that June will be the 'bounce' month and hopefully BREAK OUT of this Wedge that's forming.
The top of the Wedge is sitting just over 9k right now, but we know 10k will be strong resistance and so will 12k.
What do you guys think about the current pattern forming on Bitcoin?
Do you think June will be a recovery month and we can breakout of this wedge?
Could the pattern break down and we go down further?
I think if we drop out of this wedge it could be a scary fall with the little support to catch us!
Let's hope for a breakout 🚀
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