Its no surprise that BTC has come along way recovering from may, but the bears have not had their extended play. This properly needs to play out so the bullish incentive can recover and attempt ATH. Roughly end of September this wedge could play out and find support off the daily 100MA. This could reset a bullish trend and allow proper momentum to break 53k and attempt ATH. When ATH is breached then BTC will have trending news to tell and retail money finally flows through again.
Look back on the chart to the 27th of July 2020 after the recovery of global news. There was a breakout (i.e. may recovery) then a rejection only to eventually retest, then the bull market commenced on the 21st of October 2020. Not the exact same fractal, but similar recovery phases of disbelief after a major market event.
Look back on the chart to the 27th of July 2020 after the recovery of global news. There was a breakout (i.e. may recovery) then a rejection only to eventually retest, then the bull market commenced on the 21st of October 2020. Not the exact same fractal, but similar recovery phases of disbelief after a major market event.