Bottom is in! Bitcoin hitting 50k in April 2023
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If we look in the previous bull run, there are few main points:
- After the breakout of the falling price and weekly RSI resistance, it took BTC approximately 160 days to make a second peak at 0.618 fibo level
- Such a movement would take us to about 50k at around April 2023
- There are actually many similarities - mainly the big channel that the btc stays in the whole time, breaking out only around halving
- Also, in the previous run, breakout of the falling price and RSI weekly resistance accured at the same time, same as now
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