#BTC BREKOUT BULLISH FLAG PATTERN!

16 Oca 2023

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#BTC

In the shorter time frame, BTC breakout this bullish flag pattern add retested it also according to the pattern Tactically we can expect a 10% bounce.
We have 21, 500 as strong resistance


Let’s see how the market reacts in a few hours.

Analysis in the higher time frame
- I have taken fractals from the past, 2019, from historical price action that we refer to as an 'echo bubble'.
- According to the fractals, one possible scenario is that we tap 14K, before making a 100% move up to 28k.
- This would be a completely reasonable trajectory to have in mind, considering that we have seen a case for Bitcoin moving from 4K to 14K
- Eventually, we would peak around the summer of 2023, with everyone thinking that the macro bull market has resumed.
- Personally, if this speculative scenario plays out, I would revert back to holding a massive cash position until the dust settles again.
- People, including myself, thought we'd never get back below 20k, and here we are now, with people calling for 7k.


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