Looks to me like a Cup & Handle formation is building up.
It started shortly after the famous "President Xi Pump" in Oct 2019 and the handle looks like it's about to go to the upside, if it plays out by the book.
Of course, bitcoin loves to surprise, and also to not do exactly what a lot of people tend to think.
Whichever way it goes, it seems like we'll know within the next few days or so.
This is just my brain dump for future analysis.
Hat/Tip to Sunny Decree on crypto YouTube who also pointed this out today.
WDUT?
It started shortly after the famous "President Xi Pump" in Oct 2019 and the handle looks like it's about to go to the upside, if it plays out by the book.
Of course, bitcoin loves to surprise, and also to not do exactly what a lot of people tend to think.
Whichever way it goes, it seems like we'll know within the next few days or so.
This is just my brain dump for future analysis.
Hat/Tip to Sunny Decree on crypto YouTube who also pointed this out today.
WDUT?