Bitcoin Double-Top: A Repeat Of 2021?

11 jam lalu

Back in 2021, Bitcoin hit a major high in April. 210 days later a slight higher high, and a technical double-top, was hit in November.

The first high toward April 2021 was preceded by rising volume.
The second high toward November 2021 was preceded by decreasing volume.

In 2024, the first high reaching March was preceded by rising volume.
The second high toward October 2024 was preceded by decreasing volume.

➢ The November 2021 higher high/double-top ended in a major crash (the decreasing volume was a strong revealing signal).

➢ The October 2024 lower/higher high/double-top has very low volume and also very, very low market participation, only whales are playing right now (no retail).

Will the second high of 2024 lead to a major crash?
This is a high probability scenario.

Bearish at resistance.
Bullish at support.

Q: What is the difference between December/November 2022 and October/November 2024?
A: The price... One was a bottom and the latter is a top.

Patience is key.

Thanks a lot for your continued support.

Namaste.