$BTC You can see Bitcoin in the weekly and daily charts - plus the US dollar index in the weekly chart.

In the weekly Bitcoin chart, you can clearly see the market structure of the last few months.

Markets typically always move in two phases: Phase 1 is the impulsive move, Phase 2 is stabilization or accumulation. This applies not only to Bitcoin but essentially to all markets.

In the current upward movement - which has been ongoing since around January 2023 - we also see these two phases. I see the last three impulsive phases that brought us to the current price level (marked in blue in the screenshot): All three movements are between +50% and +60%. If we apply this to the last correction, we will get a price between 125,000 and 135,000 USD - which, by the way, matches my last post with the AI indicator. 😉

In the daily chart, we see that we are approaching our resistance quite impulsively.