Hear me out -- this is only speculation based on pattern analysis. As the saying goes "The Trend Is Your Friend."
What is shown is not guaranteed to occur exactly as shown, nor will what data is displayed will be accurate.
This is only an idea, again, based on pattern analysis.
Reviewing nearly the entire timeline of Bitcoin on the MSC - We can draw many things and speculate many things.
For my opinion, I found something interesting...
You'll notice a yellow horizontal dashed line. That marks the 13-14 ATH. You'll also notice another one for the 17-18 ATH.
Let's take a closer look at the 13-14 ATH and how that lead up into the 17-18 ATH. From when the 13-14 ATH was broken, there were 4 GREEN SOLID candles that closed higher than the previous with a higher low. The 5th candle? That was a RED SOLID candle, with a wick (bought up). Following that event were 3 GREEN SOLID candles that lead into the 17-18 ATH.
Now, let's take that same example and apply it to our recently broken ATH from 17-18.
Interesting...
Looks like we've also just had 4 GREEN SOLID candles that closed, each with a higher high and higher low. And, now we're in our 5th candle -- also currently in the RED (04/20/2021).
Will we see a repeat of a correction touching the top of the Weekly EMA Ribbon? Or, will something else happen entirely?
What is shown is not guaranteed to occur exactly as shown, nor will what data is displayed will be accurate.
This is only an idea, again, based on pattern analysis.
Reviewing nearly the entire timeline of Bitcoin on the MSC - We can draw many things and speculate many things.
For my opinion, I found something interesting...
You'll notice a yellow horizontal dashed line. That marks the 13-14 ATH. You'll also notice another one for the 17-18 ATH.
Let's take a closer look at the 13-14 ATH and how that lead up into the 17-18 ATH. From when the 13-14 ATH was broken, there were 4 GREEN SOLID candles that closed higher than the previous with a higher low. The 5th candle? That was a RED SOLID candle, with a wick (bought up). Following that event were 3 GREEN SOLID candles that lead into the 17-18 ATH.
Now, let's take that same example and apply it to our recently broken ATH from 17-18.
Interesting...
Looks like we've also just had 4 GREEN SOLID candles that closed, each with a higher high and higher low. And, now we're in our 5th candle -- also currently in the RED (04/20/2021).
Will we see a repeat of a correction touching the top of the Weekly EMA Ribbon? Or, will something else happen entirely?