fishguru73

Taking profit has it's merits. This is the top for BTC historically. We may see a double top rally into 2026 as we did in 2021 but, for now, the overall weekly trend will be bearish even if we put a shoulder on the rally.

I think anyone with a couple of brain cells can agree that anything that is a natural function of buying and selling should have no linear correlation. But, you may only have one so don't blow a fuse here Einstein.

This long standing top trend is and will continue to be the cycle top

Macro trends on high time frames aren't to be ignored.

The key areas of support and resistance, marked with fib levels, EMA's, and trend lines, should help to determine continuance on the current bullish trend or invalidation.

I have marked this with an arrow to show where, in my opinion, that we are in this current rally compared to the 2019 rally. Note the Fibonacci placement and level correlation similarities.

Bear market rallies in bot 2015 and 2019 both recovered 70% of losses before revisiting lows prior to bull runs. Considering the duration of the current rally and continuing resets of the RSI on lower time frames, I think history tells us we can expect a repeat of these previous rallies to front run the recessionary pull back of the other indices.A 70% recovery puts BTC somewhere around 53K so be prepared for an unexpected pump that hits targets anywhere from 48 to 53K prior to a quick sell off once the target price is reached. I have a "you are here" arrow on the 2019 rally shown on the daily TF with Fibonacci levels to give an approximation of where we are in the current trend.

If this line isn't on your chart you should really add it.

Pay attention to long standing trend lines, especially when they've been rejected previously over the last year and a half

If Bitcoin manages to break the long standing trend, the fibonacci gives it possibilities of 42. However, note that market makers may skip the limit orders shorts off of the TA and max RSI could come anywhere in between so best to put limit orders under the price action as it advances and make sure the RSI is overcooked.