Pullback from recent Bitcoin rallies using technical analysis
I wrote a bitcoin article regarding why there is a strong tendency for market to behave a certain way. This was few days ago and we were at the height of the third push higher to 2480. I marked the pullback level at the time like in the charts.
Each wave of selling, red boxes, are approximately equal. Each rally was also equal. This suggest that the momentum of the rally is linear. What I pay attention at this point is if we pullback more than the magnitude of the redbox. That would suggest a change in trend. Let see how this one plays out.
Also, recent double top target on smaller time frame hit: