Hi dear friends, hope you are well and welcome to the new and important market update.
The historical move of Bitcoin Log Growth Curves:
On a monthly time frame, if we closely watch the "Bitcoin log growth curves" history, then it reveals that whenever any candlestick touches the bottom then next month's candle never comes to the lowest price of the previous one (which touched the bottom).
Key supports and falling wedge:
Now we can see, as the candlestick of May 2022 is the 1st candle since after Oct 2020 that touched the bottom of "Bitcoin Log Growth Curves", therefore, based on the previous history we can say that now Bitcoin will not come back to $25400, which is the previous month's low. (But remember it is a probability any can be possible, if Bitcoin breaks down the wedge on a weekly time frame and the support of $28600, then Bitcoin can exceptionally set another low, which BTC never did in its previous history).
In short-term the danger is still not over:
As per this history, it can be the right time to enter the market for the long-term, therefore, I have started sharing the long-term trade setups at the Patreon. But for short-term long position trade-setups, we need to wait for the oscillators to enter the bullish territory, most probably within the next 2 or 3 days, other indicators will be also turned bullish.