Hello Steemians! Today I want to make a part two of BTC in a sparrow's beak article.

Again, keep in mind this is NOT financial advice and you should definitely NOT use this as a guide or let alone a hint for you investment. This is purely my own personal opinion and should be only used for further thinking and analysis.

In the last article, I observed that the dollar value of Bitcoin has formed a long term triangle...

...pressure was building up since.

The definite downward trend has been lasting for a month and I could have seen this coming. I guess that hope is a powerful and very useless emotion (which is a psychology post for itself I'll do soon) and the small pumps blinded me from this fact. The outcome of the short term downward trend has rendered itself in form of the breaking of the beak.

True, the daily candle that broke it hasn't yet closed in the moment of writing this article, but everything seems obvious.

We're going down.

If you want BTC dollar value to go up we need to push it even lower right now. The cheaper it is, the more people will be willing to buy it. We desperately need more people in this market... It's like the gate has been closed ever since the bear market opened. It's sad and very telling of why are people entering the market in the first place. One word - GREED!

That's not even that bad it sounds, many people got into crypto for the gains and stayed in for the fundamentals.

For the decentralization, the freedom, the indepedence, the immutability and the security!

That's right, many people, including me and my crypto buddy @veganrobot got into it all because of the head spinning gains... Soon, the words of Andreas Antonopolous (and others) started crawling in my mind, multiplying into new concepts, worldviews and solutions to problems I never knew existed. Or atleast I didn't have such a detailed description of them. Enough with the fundamentals, back to the analysis.

...so where is the bottom?

I don't know. It could be the 5000 resistance point, it could be the 6000. We could break them all, why not? I won't be buying in until I see a definite upward trend... And that's not a green daily candle, that's weeks of an upward channel.

Another thing I'm looking out for other than the horizontal resistance points are the angled trend lines. By breaking this 'beak', we actually broke a trend line that was holding this bear market from diving deep.

The resistance line of the bear market is quite steep.

It's going to cross the next trend line around 4000 dollars in May. If we go there and break the bear resistance, I think the rest of the year will be an even stronger bull run then last year. If we break it sooner, we might continue these weak trends. The same goes if we bounce off of a resistance point earlier.

With love,
@freegardens