It's a big one, a mirror of our bear flag we had in the bear market. We also have an SRSI cross on the indicator below, they happen about every 6 months and usually lead to a rally. So it's time for an update, as mentioned in my previous post 3 months ago
it's time to go sidewas for a few months like we've done before. We get no direction until we have a monthly candle close above or below
We have been rangebound so there has been no reason to post but now I think we are nearing the end of this boring crypto summer.. We are still in our box but I think soon we will see the breakout, 6 months after halving as in the last cycle we went on a rally. Bitcoin's clockwork right. And we are in our 5th month of consolidation in our box, just like Gold did, it also had 5 months and then..
What do you think, will this rally break out or not? There are some concerns for a bearish divergence to form in the coming months in the RSI, to invalidate we need to make a higher high in price and indicators. Bearish divergence on weekly or monthly time frames usually marks a top. Won't go into detail but il do a post if it materializes. If Bitcoin bulls fail we will probably have a intra top as in 2019 before the cycle peak in late 2025. I know people are bearish on Alts, maybe it's time for an update on Total2 too?
I hope you enjoyed reading and leave a comment If you want to see more ideas in the future.😃
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BTC update - GOLD vs BITCOIN - Definitely the fractal to watch🧐
Christopher
Kristiansand, Norway
Source: Photos are chart-screenshots by me from Tradingview.com
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