Always learn to question what you see taught. Microstrategy buying 750M+ worth of Bitcoin and that being spun with a bullish narrative deserves a second look.
The top seems to be technically in here and the fractal following the 2017 top is in purple on the chart, which lines up perfectly with key trend lines and supply/demand zones on the 1D Coinbase chart. Max pain for investors would be a year worth of slow bleed and ranging lower until we ultimately hit $3,200 - $4,200 again.
No one said the path to financial freedom would be easy or quick. Dip of this magnitude is just another opportunity to load up with more if you truly believe that Bitcoin is the future of the Global Financial System. Good Luck.
- PennyBag
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This trade is going according to plan. Bitcoin is now in the distribution phase after this most recent bull leg up. The more Microstrategy continues to accumulate will only prolong the next leg up due to price suppression tactics to artificially keep price down to allow maximum accumulation for the least amount of capital and further allow them to control the market due to supply control.
If you are a bitcoin bull you do not want to see Microstrategy to continue to expand their reach within crypto markets in general.
Breaking above $19958 is the next upside objective for the bulls.
Bottom Line: A fifth wave rally is in its early stages.
Note: Prices can vary between exchanges, and consequently there may be differences in our chart prices due to different data sets.
leoespanhol
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omg... this analysis dont have any sense... after all the fundamental analysis... anyway... its free add any post here, right?
PennyBagsCapital
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@leoespanhol, you have no followers and your grammar is awful. Unsure why or anyone else on this thread should take your comments seriously
leoespanhol
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@PennyBagsCapital, well... my grammar is awful, but the question is to knowledge to make money. As you can see... your analysis was a sh...t.
chartfella
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Good commentary, and thank you for a clear, easy-to-read chart. I don't understand why people make their projection lines green, red or black--- basically the same colors as the real candles. Then it's hard to follow the price vs the prediction. Your color combinations are perfect.