If we land in the yellow box (Fear) you can expect some big FUD coming out about some Bitcoin ban possibly again for the 10th time ,anything to get you to sell your Bitcoin but in reality it will be the best buy zone all year.
The bar pattern you see under price action in orange is from 2017. It is scary how the same fractal pattern is playing out . If it does play out like 2017 which so far it is then we should expect some small flash crash , one more massive liquidation event before the move up.
I really don't think it will play out the same , if we stay in this massive ascending channel the path is clear to all time high , so far it's playing out as expected price rejection from the top of the 0.618 Fan Fib ,now we need to come back down to the 0.618 Fib retracement to complete the setup for the final run. The support of the bottom of the channel is held up by 2/1 Gann ratio.
Check out previous TA’s below to see how this perspective developed over time.
@Longbitcoin, maybe that's the case but I just really don't see it playing out like textbook 2017, blow off top with a massive raise , I see more a move like the first part of the bull run Oct 2020 to Feb 2021 , it would be to easy for Bitcoin to play out like that , I have been down this path many times , when we are all expecting same thing , looking at the same thing , thinking the same thing bitcoin does the unexpected , this is why I stick to my vision , until this ascending channel breaks my view will not change.