RektCityCrypto

The two most powerful and important Bitcoin trend lines to overcome. A weekly close above will almost certainly end this bear market.. Until then, remain cautious!

#bitcoin
A bullish "W" pattern. A close above could get us up to that 78,3. Not expecting it to get to the full target of 90k but if it does, we will have broken out of the bear market downtrend. We have been here before

My #consensio system (rest in peace Tyler), which is 1 of 20 important signals I have, tells me I should still be out of Bitcoin on the long term. See pinned comment for more details. Hint: Waiting for an "H".

#bitcoin
The bottom *could* be in of course, but I prefer to see more of a confirmation as at the moment, this is just expected space for a rally to form. Lets see a weekly close above here.

#Bitcoin

#Bitcoin
A monthly local high confirmed - and with it: bearish Monthly Divergence also confirmed.

Inverse Head and Shoulders (kinda) on the 4 hour. Neckline is the pitchfork line.

#Bitcoin
Another warning sign on the larger TF.
We lost the pitchfork.

The S&P had a weak bounce. Only hitting the 0.382 before getting a hard rejection. Usually the S&P with a breakdown like this can get up to the golden pocket (5920).

#SPX
My target for the S&P 500.
5200.
We have confluence for a 1:1 wave C with the Hyperwave phase 3 line (extremely powerful). If THIS breaks, expect all hell to break loose.

#Bitcoin

#Bitcoin 4 Hour Chart

#Bitcoin Daily chart

#Bitcoin weekly chart
In the green so far but receiving some downwards pressure. Would still expect an attempt to tag the yellow 21 EMA.

#Bitcoin
Daily 21 EMA (yellow) about to cross down the white 200 EMA. Not good. On the other hand trying to break out of the daily falling wedge (bullish).
Very mixed signals and difficult to predict a direction.

#Bitcoin
Opened and closed a week under the yellow 21 EMA.
In previous bull runs this would have been game over, but as you can see below, we have already closed multiple weeks under the 21 EMA this cycle and then blasted higher. Maybe the green 55 is the one this cycle.

#Bitcoin
Probably the biggest concern for Bull Market continuation is right here.
In March, we tapped the Power Law Corridor line and rejection for 8 months before trying again. Then we tried another 4 months to open and close above and we failed each time.

#Bitcoin
For those building a Long position on the 4 hour timeframe, we have a bull flag possibly. Finding a little bit of resistance at the green 55 (top circle). Could drop to the lower circle (yellow 21, 0.382 fib and bottom of the flag. Should be good support.