Bitcoin: double bubble or complacency levels?
BTC strongly broke out of its downtrend, but it's not solidly on track to continue upwards just yet.
BTC price action here is going to determine if the 2020-2022 cycle is going to continue or return to bear market lows. Critical level to watch is high 44800-45000. Holding a weekly close above that level indicates probable double bubble. However, weekly wicks into the higher level don't mean we're in the clear.
Two fractals to watch are the 10k consolidation from 2020 and the 60k top from 2021. They have been scaled to match the current price range.
BTC price action here is going to determine if the 2020-2022 cycle is going to continue or return to bear market lows. Critical level to watch is high 44800-45000. Holding a weekly close above that level indicates probable double bubble. However, weekly wicks into the higher level don't mean we're in the clear.
Two fractals to watch are the 10k consolidation from 2020 and the 60k top from 2021. They have been scaled to match the current price range.
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