BTCUSDT - Weekly

The Bitcoin weekly chart exhibits a pattern of three significant upswings, each nearing a 90% increase, followed by roughly 20% corrections after the first and second legs.
As we approach the halving event, a pullback of at least 20% seems plausible, suggesting a potential target around $58K.
Given this historical pattern and the cyclic nature of Bitcoin's price action, such a retracement would not be out of the ordinary.

Note

Bitcoin's trajectory is aligning with the anticipated path, descending towards the $58K mark. This level is critical as it may act as a magnet for stop orders, potentially culminating the completion of the second leg of its recent movements.

Trade closed: target reached

Could anyone else explain this pullback with such precision? I anticipated it accurately, and it happened just as I expected.

Sober_Trading

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Sober_Trading

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