BITCOIN Megaphone is the last step before $150k.

Bitcoin (BTCUSD) is repeating almost to the exact point the 2023/ 2024 uptrend, as right now it is in the process of forming a Megaphone pattern similar to the one during December 2023 - January 2024.

Before that, both patterns started the uptrend when a 1D Death Cross formed the bottom. After the 1st Bullish Leg, a Channel Up on a 1D Golden Cross marked the transition to the 2nd Bullish Leg that eventually led to the Megaphone.

In 2024, when BTC broke above the Megaphone, it started the final Bullish Leg that peaked a little above the 1.786 Fibonacci extension from the bottom. During that process, the 1D RSI sequences among the two fractals have been similar.

As result, aiming for the $150000, which is marginally below the 1.786 Fib ext, is a solid target.

Do you think the pattern will continue to be repeated? Feel free to let us know in the comments section below!

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