BTC should have crashed in March. It should have done a lot of things this year, but seems to have been doing the opposite of what everyone predicted. TAs don't make sense, we have broken out of bearish patterns bullishly several times. And Billions have been lost in the form of Liquidations.
In 2013, we had a similar pattern, we never really corrected until April. We had 7 bullish green candlesticks in a row, and the 8th one was red. We may have a similar pattern here.
On Chain Data shows a severe decrease in Transactions in March, which normally would be followed by a drop in price, however the price kept floating upwards. I think that after the Coinbase IPO it may be time for nature to kick in, and we can see a drop of BTC. This can happen this week, or next month. It is hard to say. The price could have topped out at 65k, or it could go up to 70k-79k. It is hard to say.
Although it is hard to predict, 1 thing is for certain. The correction will come, and it will most likely be a lot larger than the 20% ones we have seen up until now.
In 2013, we had a similar pattern, we never really corrected until April. We had 7 bullish green candlesticks in a row, and the 8th one was red. We may have a similar pattern here.
On Chain Data shows a severe decrease in Transactions in March, which normally would be followed by a drop in price, however the price kept floating upwards. I think that after the Coinbase IPO it may be time for nature to kick in, and we can see a drop of BTC. This can happen this week, or next month. It is hard to say. The price could have topped out at 65k, or it could go up to 70k-79k. It is hard to say.
Although it is hard to predict, 1 thing is for certain. The correction will come, and it will most likely be a lot larger than the 20% ones we have seen up until now.
Comment:
Naaaailed it.
Comment:
Elliott Wave Pattern Complete,
Bitcoin has moved down to the extension of the bearish correction, and should correct upwards and form a new pattern.
Bitcoin has moved down to the extension of the bearish correction, and should correct upwards and form a new pattern.