There was big McDonald's pattern on Bitcoin price chart in 2021. We have seen two big top in a year. In this year we may be going to the second top to draw another big McDonald's pattern. There are a few similarities between 2021 and now.
Here you can see weekly chart of Bitcoin. As 2021, we may be going to the second top of McDonald's pattern. We are 7th green week on Bitcoin price chart. We have not seen green weekly candles series since end of 2023. So, we are close to price correction with red weekly candles.
When Bitcoin price enters price correction McDonald's pattern may start to appear.
Here you can see the indicators on weekly chart of Bitcoin. If we see possivle red weekly candles after 6 or 7 green candles, MACD Indicator may reverse down as 2021. There are lots of similarities on the indicators of weekly chart of Bitcoin. There was negative divergence on RSI Indicator, there is negative divergence on RSI Indicator in weekly chart. MACD Indicator appears as 2021.
When we see red weekly candles on Bitcoin price chart, These similaties may start and we may see another big McDonald's logo pattern.
Market maker always likes making fake moves. Even Bitcoin price touched all time high today, there is no hype on crypto market. We should be careful to avoid from fake moves of market maker.
We will see..
Posted Using INLEO
