BITCOIN Currently looking VERY similar to 2013 PA and the DANGER

I posted this chart some time ago, discussing the idea that Bitcoin has entered a New cycle and had already entered the New "Cuo" pattern.

The idea also discussed the The Long Term channel that Bitcoin PA has been in somve 2017, only leaving this channel to reach higher to ATH.

The chart below reminds you of this channel and the Cycle "Cups"

On the Far left is the 2013 ATH and what happened after.
Lets zoom in

Here we can see how PA was UNDER the Cup, Resistance, till it reached the Lower trend line of channel. It Ranged there for 56 days. This was actualy the creation of the Channel..the Anchors if you like....
It bounced a little, got rejected, Hit trend line, bounced stronger, broke through and into the Cup, got rejected again, settled on Trend line but 266 days after ATH, PA Fell trough the Lower line of channel and fell back on to the Cuo, where it remained until 2017.
Also take note how ATH in 2013 was still in Channel.

Lets have a look at Current PA

So, what similarities do we have to 2013?
First of all, the Current ATH is also still in Channel. Infact, the 2013 and 2025 ATH's are the ONLY ATH's in Channel.
Since reaching lower trend line, PA ranged 49 days. ( 56 in 2013)
I have 2 versions of the "Cup" because, as yet, neither have been confirmed.
But if we look to the Fainter of the 2, the similarities with 2013 are scary. PA runs down under Cup till it reaches Trend line, Bounces ,Gets rejected, Bounces Stronger off trend line, breaks into Cup, gets rejected and returns to Lower line of channel.
EXACTLY the same..

In 2013, PA fell under the Channel line 266 days After ATH, Currently, that takes us t around 29 June, though I think things are happening Quicker and so, IF we are going to follow that 2013 pattern, we could Fall through anytime soon
But I did say IF...................

The Daily version of this chart with Candles

We can see PA Fell trough the first 2 lines of support and is currently bouncing off the Last line of defence before a sharper drop down to around 64K then 61K
Should they fail, and PA wants to follow 2013, the Cuo sits around the 50K mark

I have been VERY Bullish and I remain that way and so, I am thinking that PA will remain in channel on a Weekly chart with possible Wicks lower..
HOWEVER, the similarities with 2013 are very close and so I will take some precautions and be ready for a possible sustained Visit below channel.
The Danger of dropping out of channel is the FEAR that will arrive, the selling off of BTC ETF's and Stratagy etc.....it would certainly unsettle many , though I will continue Buying as much as I can Get.............
If we do drop out of channel, We could see the creation of a New one happening, as we saw in 2013 and THAT could lead to some very exciting things........
So as ever, we Wait............

And lastly, That Arrow pointing to the 2022 bounce.
Please ignore it, I forgot to remove it....Apologies.

Orriginal

Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice

Haftungsausschluss

Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.

Orriginal