AllAboutMoney

Bitcoin has been consolidating at this level for several weeks, easing some of the pressure in order to push above 120K. As of today, we have a clear formation—a large symmetrical triangle—which confirms the continuation of the upward trend and rules out any possibility of returning to lower levels.At first, I was expecting a symmetrical triangle, but the pattern didn’t fully form. Now, we’re seeing two bull flags targeting the 120K levelHappy ending

The appearance of this symmetrical triangle marks the end of the decline in this cycle, in which the price is stabilizing in order to continue its upward movement. 109 is the next level.

As we can see in the chart, on December 24th, Bitcoin's price reached its climax, moving cleanly without further structures to follow. Since then, the price has formed micro-structures and is now attempting to create a much larger one that would allow it to advance—a megaphone pattern (D). If this megaphone were completed with an upward move today, it could catapult the price above $149K. With each passing day, the potential price target increases. However, to form the full megaphone, a base had to be established, which is what we are seeing now. On December 24th, a structure was formed that facilitates a return to the $107K level and also helps determine the price range where the megaphone's base (C) could be finalized, between $86K and $77.6K. Today, a bull flag (B) has formed within a falling wedge (A), and the price movements align with this pattern, which aims to return to the apex before continuing the upward move. However, even if the price surges due to the bull flag breakout, I believe it might retrace again to continue building the base of the megaphone, which is quite broad.X pattern invalidated, which is good because we can see the completion of the megaphone floor, now and not wait for another month. I assume that a catalyst will make the price rebound because MSTR and others already have very strong structures

Confirmed: As I mentioned in another post, we have now crossed the resistance of the symmetrical triangle, indicating a potential move towards 111K and breaking the possible downtrend. At the end doesn't make any sense wait for a downtrend when everybody is moving to bitcoin(not now).

After the abrupt appearance of a downward pattern, a counterposition emerges: a new, massive symmetrical triangle! This should take us above 110K, forming a diamond(A) where the goal is to preserve the megaphone(B) effect and establish a new target within it.We have crossed the symmetrical triangle resistance, and the new target is 111K

Coincidence? We had a bull flag and a series of patterns waiting to play out. Suddenly, another symmetrical triangle forms, breaking any possibility of a drop, and a new target of 106K is confirmed. Jerome Powell has positioned gold, which is used to make necklaces, with a digital asset called #bitcoin that is used to make nothing. 106K here we go!

I sold my entire position because, technically speaking, I no longer have anything to track. This doesn't mean it won't keep going up, but algorithmically speaking, I need more information to determine new targets.

We was waiting for this, now we have a bull flag inside a megaphone.

We recently finished a bull flag, now there is a bear flag pointing to 63K, at the same time we can see a new formation, a possible megaphone tat could continue the uptrend over 70K.

October 24, 2023, the setup launched us to unprecedented Bitcoin prices, generating 109% gains in a continuous rise hour after hour for several months. The price is now consolidated at the 60K level and ready to reach 70K and 80K. Could Bitcoin be setting up for an anniversary rally?