The upper trend line support HAS BEEN BROOKEN if you would draw your lines right! BTC still has to complete his first cycle with a new lower low.
- a V turn as BTC did from 5900 almost never happens
- a bottom mostly gets tested several times
https://myalbum.com/album/kWMWIOFCzJiV
Please guys take a good look at the chart of Amazon on a "1 week" level.
Go back to the start of Amazon june 1998.
In april 2001 the cycle almost looks done...............but september 2001 shows the second bottom!
Since this chart looks so extremely similar to BTC........ are we heading to the Amazon september 2001 level?
OK, I looked. I saw a Triple Top form on Amazon between April 2001 and July 2001 signaling the downtrend. No offense, but it doesn't look the same to me. I did however find an Inverse Head and Shoulders that signaled a huge uptrend. But that don't count I was looking for it. I also want to mention that I do agree with you, we could visit lower levels again. I wouldn't want to rule it out, there is a lot going on in the space right now.