High Time Frame 3 Drives Pattern down to October

NOPIUM

I wanted to share a bearish thought that I think has merit whilst we are all talking about the new bull run to BTC at $250,000 by next week idea.

• The Blue lines - FIB TIME
  
• Purple lines - 3 Drives Pattern
  

I'm hoping the rest is clear enough.

FIB Time has been something I have used, ignored and then regretted before. Whilst nothing is a guarantee, In the past, it has given me dates within a few days of where it landed.

This time, it's showing that IF we do start to grind down over the next couple of months, it ends somewhere around the 4th - 7th of October.

Price Levels
Untested resistance around $48,000 - $49,000

Above us right now, we have a weekly Order Block, the whole range Point of Control and the Value Area High not too far away. Coupled with the untapped Weekly level, I see this area as pretty good resistance until proven otherwise.

Price levels:
Somewhere between $67700 and $69000

If anybody has any thoughts, I'd love to hear them.

Charted for BTCUSDT.P