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Is BTC’s weekly chart about to replicate that stretch of price action from late March to early April 2022?
Looking at the movements ahead, they’re all very similar—just one is a magnified version of the other. It’s all sideways trading—then a decline—then sideways trading.
But whether it will break through the weekly Bollinger middle band, I don’t know; either outcome is possible. From the candlestick pattern, breaking through the middle band and then reversing is a very common “bull trap” setup.
What do you all think?