Bitcoin Weekly Chart / Price Action Repeating 2019 June Period
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This structure is almost repeating the structure that started in June 2019. How ?
In March 2024, the price made a high with the all-time-high and created 3 lower highs with it.
When we look at the 2019 June period, we can see that after creating 3 lower highs since June 2019, the price continued with 3 lower accumulation lows.
Now it seems that the first lower accumulation low will be created between roughly 50k - 61k like 2019 period. Since I compared the price structure to the June 2019 period, I pasted the area after the 3rd lower high to the current period and after doing this, I realized that it could also be compatible with uptrend channels on the chart.
Because both the uptrend channels on the chart have been working well for a long time and the price has continued with 3 lower highs since the 73.8K ATH level so far. Let's see if it works. According to this structure, the downtrend process that started in March 2024 continues until November-December 2024.