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Is Bitcoin about to start the foundations of a parabolic run...
Just like Gold has done?
Well, right now, Bitcoin is looking strikingly similar to how Gold looked before it moved 300%.
We have:
- Two peaks
- A drop below the 50EMA
- A drop below the previous low
- A consolidation below that low
This is an expanded flat pattern, and Bitcoin is currently following to a tee. Gold consolidated within the deviation for 55 days, we are at 27 days.
It is one of the most deceptive patterns, because the deviation below the previous low is a massive bear trap.
It convinces everyone its weak, before trapping late shorts and then using them as fuel for running it up turbo.
Expanded/running flats almost always correct very strongly, and just like with Gold, they push on to new highs very hard.
This is an undeniable and strong resemblance, whilst the business cycle is lining up to support it.
Gold moved 300%... added $26tn to its market cap.
300% for bitcoin is $200k from these levels... and that only needs $3tn to do it.
And the best thing is that, regardless of all the bullish data, everyone thinks that this outcome is impossible.
But I do not think so, at all.