Breakout of long-term downtrend in the inverse, major resistance (support) at 10k, with a topside trendline extending from peak of 2013 to bottom of 2019 (yellow line).
Continuation of downtrend after reaching peak (bottom) 10k resistance (support). Resume downtrend (uptrend) towards 120k by 2027.
I find it much more intuitive to look at the bitcoin chart in inverse, as we are typically bullish biased, and this chart shows a classic case of a bottoming out chart, which in inverse is the exhaustion of a decade-long pump, and for the first time (since COVID which was a fakeout/rejection), we have broken the trendline and made a perfect retest which pumped us (in inverse) to 20k.
48K was a perfect bounce to make a inverse head and shoulders (inverse).
Continuation of downtrend after reaching peak (bottom) 10k resistance (support). Resume downtrend (uptrend) towards 120k by 2027.
I find it much more intuitive to look at the bitcoin chart in inverse, as we are typically bullish biased, and this chart shows a classic case of a bottoming out chart, which in inverse is the exhaustion of a decade-long pump, and for the first time (since COVID which was a fakeout/rejection), we have broken the trendline and made a perfect retest which pumped us (in inverse) to 20k.
48K was a perfect bounce to make a inverse head and shoulders (inverse).Disclaimer
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