Hello all! I was searching for the last time bitcoin made consecutive higher highs on the daily while making lower highs on the RSI and I came across this very interesting confluence! The last time this pattern occured was in JUNE OF 2017. Wow.
Anyways, back then , after we finally peaked out bitcoin saw a nearly 40% decline from the top. If that was to play out today we could be seeing $5800 bitcoin! Get ready to buy the dip guys because after this correction is over bitcoin is going to rocket past 10k up to 12k and beyone. The bull market is here, it's time for a dip, get ready to buy it.
Keep on waiting these 5.8k, a retracement of 40% it's more than a correction. I expect the price to consolidate at the actual level before the continuation to new ATH
TEXAGG22
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@L0GIC, well according to past market cycles corrections of 30-40% are common. Thank you for your comment.
L0GIC
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@TEXAGG22, in 2017 when btc went from 2.9k to 1.9k it lost 40% or 18bln$ something that a group of individuals could have done, but today a 18bln $ wipeout would mean only a +-10% correction, to achieve the same 40% correction on a so called "bull-run" btc needs to loose 64bln $, the nowdays market is played by more individuals than 2017, it's not impossible to happen but with time it becomes more difficult and the market less volatile