Based on numerous requests, posting this as an idea vs. chart shared in chat regularly.
This represents 5 key steps (aka zones) to conquer for BTC to return to full bullish glory present prior to dip from 49K to 38.6K
The original chart was posted while BTC was posted on 1/24 while BTC was trading at 38.7K, and has [for mostly lulz] posted to our degen crypto TV chat daily++ as a reminder for key zones in the recovery of BTC to its prime bull state.
Note that while this represents a LONG position optimism, and has been fruitful for long traders, it is very possible we may not make it through all the steps and revisit the 30K range
This represents 5 key steps (aka zones) to conquer for BTC to return to full bullish glory present prior to dip from 49K to 38.6K
The original chart was posted while BTC was posted on 1/24 while BTC was trading at 38.7K, and has [for mostly lulz] posted to our degen crypto TV chat daily++ as a reminder for key zones in the recovery of BTC to its prime bull state.
Note that while this represents a LONG position optimism, and has been fruitful for long traders, it is very possible we may not make it through all the steps and revisit the 30K range
Note
--- sparing all prior updates during steps 1-4 ---We are currently revisiting the bottom of the channel we re-entered during step 3. This occurred due to resistance faced in Step/Zone 4.
Maintaining in channel > ~41.8K will work towards progression back into Step 4 and ultimately to Step 5. Dip below 41.8K means high likelyhood of visit to 32K-35K range. And who knows what from there
Note
Today, we bounced at the bottom of the channel support, and are back fighting upstream in the resistance zone. Anticipate turbulence entirely in the 43K range, with the next big milestone making it above the prior highs and into 44K.Note
We continue to sit in an area of high resistance, and $44K+ remains a key level, even more than yesterday, towards additional subsequent upward movement.Note
BTC continues to struggle overtaking $44K, and is currently at a key price point along the bottom channel channel line. If it drops to 
42K (currently 42.352), likely to experience more downside and retest of prior support levels Note
Major break through!! 44K reached. Approaching Step 5 of the BTC 5 step recovery program. LFG --> potential retest, but in flight up.Note
We have reached step 5 of the recovery program!!!! Congrats bulls. Hold the line and NUMBER GO UPNote
5 steps of recovery - complete. Thanks all
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.