FOUR PHASES ONE OUTCOME

2022년 10월 11일

Please feel free to share your thoughts with me on the chart - as you can see BTC has currently lost key support at 19.1k and some change. The reason I believe the fourth phase has the potential to change everything, is that each time PA has tested key support (116 days and counting) it has either been off the back of a bullish pattern - see below. Phase two pushed PA back down to support via an ascending wedge (bearish) and the difference with phase four is that we again have an ascending wedge but this time the outcome has pushed PA below support whereas the previous took PA only to support before breaking out into a bullish pattern.

Phase one - Triple Bottom
Phase three - Descending wedge

If someone is able to better explain my point and re-edit this post, or even crop the chart and edit it for themselves. Please feel free.

Look forward to your comments
Jon