Market is not expecting a large correction at all, which is exactly why it could happen.
This double top looks like a major local topping formation, inflection point.
Market seems to have all the characteristics of a B wave with over bullishness, lot of delusion still present, and almost nobody expecting a bear market continuation.
Market average correction expectation: around the 8.000$ area.
If Btc starts to settle below the 8k area, big doubts could happen about this whole market, and a large panic could ensue.
This parabola is insane and has nothing to do in this area of the market cycle and cycle structure, which exactly reflects this market overbullishness and level of delusion.
Its a 50-50 bull market start, B wave starting to move to a large C wave.
Yes, Bitcoin broke every resistance except the main Monthly resistance of 14k, yes the structure from 20k to 3k looks like the structure of a 100% completed cycle, so yes it has chances to be a bull market early stages.
A consolidation of several months between 7200$ and 11 500$ would almost mean 100% that this is an early bull market forming.
It is my last post about a possible prolonged bear market.
Bitcoin is my baby and i am a long term bull about this super tech.
But right now, we have a massive parabola that has nothing to do in here, so i am very careful.
Laugh about me with this B wave, i know lots of millenials made it a meme, i honnestly don't give a fuck about it. I am just ready for bullish and bearish scenarii.
Ciao
This double top looks like a major local topping formation, inflection point.
Market seems to have all the characteristics of a B wave with over bullishness, lot of delusion still present, and almost nobody expecting a bear market continuation.
Market average correction expectation: around the 8.000$ area.
If Btc starts to settle below the 8k area, big doubts could happen about this whole market, and a large panic could ensue.
This parabola is insane and has nothing to do in this area of the market cycle and cycle structure, which exactly reflects this market overbullishness and level of delusion.
Its a 50-50 bull market start, B wave starting to move to a large C wave.
Yes, Bitcoin broke every resistance except the main Monthly resistance of 14k, yes the structure from 20k to 3k looks like the structure of a 100% completed cycle, so yes it has chances to be a bull market early stages.
A consolidation of several months between 7200$ and 11 500$ would almost mean 100% that this is an early bull market forming.
It is my last post about a possible prolonged bear market.
Bitcoin is my baby and i am a long term bull about this super tech.
But right now, we have a massive parabola that has nothing to do in here, so i am very careful.
Laugh about me with this B wave, i know lots of millenials made it a meme, i honnestly don't give a fuck about it. I am just ready for bullish and bearish scenarii.
Ciao