UPDATE 1
Look at how the price stops so perfectly at the lines of this channel (blue lines). As I describe in my original post below from yesterday, this is a bullish pattern, and BTC should surge higher soon.
But I just wanted to add how remarkable it is that the price (not just of BTC but also of all other stocks and commodities) will stay within a channel so perfectly. Look at how perfect these patterns are. How do traders know? How do they know to stop perfectly at the line and turn the price around? How can millions of traders who don't even know one another suddenly realize, "Hey, we've hit the line. Time to swing the other way now." Is there a collective consciousness?
It's little things like this that make me believe in a matrix.
ORIGINAL
BTC is at a critical point here, right at the top of a descending bear channel that widens at the bottom, signifying more downside may be possible. BTC needs to break out of this channel this weekend, or we could see another down leg.
Even so, the future of BTC is obviously very bullish . It is still within 10% of its all-time high, and the peak we get after a halving is not yet finished. As it happened two times before, BTC surges for about 1.5 years after a halving. Since the last halving was in May of 2020, we can expect this cycle's surge to continue through to around September to November of this year.
So never fear these corrective phases in the middle of bullish runs. Better times are still ahead, and so are higher prices.
PS... According to www.centralcharts.com/en/gm/1-le... "A descending broadening wedge is a bullish chart pattern. It is a bullish reversal pattern."
Look at how the price stops so perfectly at the lines of this channel (blue lines). As I describe in my original post below from yesterday, this is a bullish pattern, and BTC should surge higher soon.
But I just wanted to add how remarkable it is that the price (not just of BTC but also of all other stocks and commodities) will stay within a channel so perfectly. Look at how perfect these patterns are. How do traders know? How do they know to stop perfectly at the line and turn the price around? How can millions of traders who don't even know one another suddenly realize, "Hey, we've hit the line. Time to swing the other way now." Is there a collective consciousness?
It's little things like this that make me believe in a matrix.
ORIGINAL
BTC is at a critical point here, right at the top of a descending bear channel that widens at the bottom, signifying more downside may be possible. BTC needs to break out of this channel this weekend, or we could see another down leg.
Even so, the future of BTC is obviously very bullish . It is still within 10% of its all-time high, and the peak we get after a halving is not yet finished. As it happened two times before, BTC surges for about 1.5 years after a halving. Since the last halving was in May of 2020, we can expect this cycle's surge to continue through to around September to November of this year.
So never fear these corrective phases in the middle of bullish runs. Better times are still ahead, and so are higher prices.
PS... According to www.centralcharts.com/en/gm/1-le... "A descending broadening wedge is a bullish chart pattern. It is a bullish reversal pattern."