My analysis seems to indicate that this is a bull trap. Opening and closing a weekly above the line currently around price action probably will provide evidence to the contrary. If that is the case then the Parabolic will get even more ridiculous .
Otherwise it is likely going to test/retest some supports lower down and go into an accumulation phase, where the sentiment will be quite disinterested and likely very negative for this savior to be currency. Make no mistake currency crisis is coming, globally... Ask yourself this question is BTC and crypto ready for it?
Otherwise it is likely going to test/retest some supports lower down and go into an accumulation phase, where the sentiment will be quite disinterested and likely very negative for this savior to be currency. Make no mistake currency crisis is coming, globally... Ask yourself this question is BTC and crypto ready for it?
Comment:
lines are scary accurate = )
Comment:
Similar setup to the bull trap before in 2019, still room to move to the 62k area. Btc very springy price action, reminds me of the 2011 parabolic run so it doesn't have to stop. Money management is Key, accumulative gains beat home run trades.
Remember the Faster and Higher the Bull, the Bigger, the Bader and the Longer the Bear will be = )
Similar setup to the bull trap before in 2019, still room to move to the 62k area. Btc very springy price action, reminds me of the 2011 parabolic run so it doesn't have to stop. Money management is Key, accumulative gains beat home run trades.
Remember the Faster and Higher the Bull, the Bigger, the Bader and the Longer the Bear will be = )
Comment:
Continuing on since last update, the support test happen since the start of this idea, the accumulation as well and the 62k price point, twice!
Added another regression line. As Price action seems magnetic to the yellow one atm, when the resolution happens it will be big, either way it goes.
Im bias towards up since the size of the market has grown quite large relatively, and this in turn will lengthen the eb and flow, from that perspective, this looks more like a Bear trap period of the market cycle rather then anything else. Which fits into the halvening pattern, with one expection, rather then the 4 year cycle this time, its an 8 year one. A double length cycle, or super-cycle if you will.
Blah blah blah, world is ending again, and again , this time is different, yada yada. If it happens so be it, but the whole world is on sale right now. If it were Food or Fuel on 30%+ discount, what would you do?
Added another regression line. As Price action seems magnetic to the yellow one atm, when the resolution happens it will be big, either way it goes.
Im bias towards up since the size of the market has grown quite large relatively, and this in turn will lengthen the eb and flow, from that perspective, this looks more like a Bear trap period of the market cycle rather then anything else. Which fits into the halvening pattern, with one expection, rather then the 4 year cycle this time, its an 8 year one. A double length cycle, or super-cycle if you will.
Blah blah blah, world is ending again, and again , this time is different, yada yada. If it happens so be it, but the whole world is on sale right now. If it were Food or Fuel on 30%+ discount, what would you do?
