If the inner pattern plays out (purple), the outer (cyan) might be more likely to happen, which would increase the likelihood that we've bottomed out long term.
DISCLAIMER: This entire idea becomes meaningless if breakout above 8400-8500 doesn't occur in the next couple days.
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So far so good! 50-hr MA preparing to cross the 200-hr MA. Crossing point could be a potential support as BTC continues to consolidate. Strong bounce from this cross would be a signal for continuing upside. A common MA cross pattern, just waiting for it be confirmed
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Pattern isn't playing out as theorized. Scrapping this play, going to adjust for different patterns and trendlines to base trades off of. This one was kinda longshot anyways, a guess that was made too far out.