TonyTheBullSeverino

Bitcoin Monthly Morning Star Pattern: Bullish Reversal Pattern, But Beware

As you know, I don't believe the bottom is in for the bear market. But bullish signals are building.

The Morning Star on the monthly is VERY significant especially with it forming at a former resistance possibly turned support

The problem here is that Bitcoin found resistance at the April 2025 low currently, something that didn't exist in 2022

In 2022, the Morning Star was part of a range deviation and reclaim. IMO, it was very obvious

This bottom is less obvious but that might mean anything

However, what does mean something is that these patterns PERFORM best when they arrive at the bottom of a downtrend, or during a bull market to continue an uptrend. The second chart shows this in the teal boxes

There was also a Morning Star on the monthly right before the COVID collapse

If we are potentially looking at another global economic event, this would make sense

I've long been expecting an X wave as part of a double zig zag

ONDO Update: Possible Wave Count and Final Leg Down

ONDO is struggling with the current level, but looks like there is some cyclical reason for a bounce here. The downtrend could be top strong, not allowing the smaller cycle amplitude provide enough push to the upside.

This looks like the ideal path for a scenario where there is upside. If we roll over early, then I expect a longer, more drawn out bottom but less of a plunge.

If we bounce, we get the plunge at the end. If it continues down, it could go as deep as the 2.618 at 10 cents