Bitcoin printed the most violent upside reversal of its History
This chart is saying a massive F*ck you to the herd who joined late for the easy money end of 2017, who panic sold thinking it would tank to zero or close to it.
This market is punishing this herd who probably panic sold between 6k and 3k.
These punishing reversals type of moves are happening in almost every market cycles.
They are the perfect symmetrical opposite moves as the punishing raising parabolas who trap the herd that thinks the asset will keep on raising forever close to the top of the cycle.
Bitcoin is now probably going to keep on raising brutally and progressively, as these same late investors and newcomers are about to Fomo and frenzy join successively, as they realise this asset is not going to zero.
Market cycles.
This market is punishing this herd who probably panic sold between 6k and 3k.
These punishing reversals type of moves are happening in almost every market cycles.
They are the perfect symmetrical opposite moves as the punishing raising parabolas who trap the herd that thinks the asset will keep on raising forever close to the top of the cycle.
Bitcoin is now probably going to keep on raising brutally and progressively, as these same late investors and newcomers are about to Fomo and frenzy join successively, as they realise this asset is not going to zero.
Market cycles.