Bitcoin: Consolidation Until Autumn?

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Made 2 bang on calls at the beginning of this pattern with the 1H chart(see article attached below). The pattern has not deviated from course yet. If the pattern holds then price should continue to consolidate with a breakout near Autumn Equinox, which is a HUGE Gann pivot date for Crypto markets. This would be very Bullish.

Disclosure. The author does own BTC.



BTC – Bitcoin & Equinox

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Click Chart to Enlarge


BTC: Bitcoin & Equinox


Here is an interesting pattern Bitcoin (BTC) seems to be following. Basically Equinox is a seasonal pivot. In an uptrend it confirms as a higher low and then slowly grinds up. In a downtrend there is a subsequent low followed by a push to the upper BBand. During the current extended bull market BTC price action going into Equinox has marked a push to the Lower BBand into oversold conditions on the StochRSI before going back to the greater uptrend trend.


The next, and most crucial, part to look at is the purple resistance and how equinox is located near the later stages of the large triangle being created. Buy support for this price study theory is located at the Lower BBand on the 1D chart. The breakout above the purple resistance is an OK buy point. The best point to buy & hold for the larger move starting perhaps in December would be buying the retrace after the breakout of the purple resistance. Current projections have movement starting near American Thanksgiving and topping around Chinese New Year.



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