Anybody noticing this super bull pattern formation on Bitcoin?
I'm still feeling like its 2017 again with Bitcoin BUT.
When Bitcoin goes through a cycle of NOT retracing to the previous highs it has correlated to extreme buying pressure during the bottoms of the markets.
We add this together we get Touches in 2015 + 2022 meaning these were
"non parabolic growth cycles" meaning more leverage less demand as the price could not track back to previous highs due to REAL buying done.
We take 2011 + 2012 + 2018
You can clearly see organic volume "No Leverage" buying up the market holding the line.
This has happen all of 2023 all I've seen is strong accumulation from institutions + miners
Logically the next "Phase" should resemble 2012-2014 OR 2018-2023
This is due to real buying pressure "Now" + Incoming Leverage.
What will confirm this is something like a move to 150k in 2024 followed by ANOTHER move towards 500k closer to 2025 retracing back to the impulse of 150k ( or whatever the medium high is).
Interesting times ahead . . .
When Bitcoin goes through a cycle of NOT retracing to the previous highs it has correlated to extreme buying pressure during the bottoms of the markets.
We add this together we get Touches in 2015 + 2022 meaning these were
"non parabolic growth cycles" meaning more leverage less demand as the price could not track back to previous highs due to REAL buying done.
We take 2011 + 2012 + 2018
You can clearly see organic volume "No Leverage" buying up the market holding the line.
This has happen all of 2023 all I've seen is strong accumulation from institutions + miners
Logically the next "Phase" should resemble 2012-2014 OR 2018-2023
This is due to real buying pressure "Now" + Incoming Leverage.
What will confirm this is something like a move to 150k in 2024 followed by ANOTHER move towards 500k closer to 2025 retracing back to the impulse of 150k ( or whatever the medium high is).
Interesting times ahead . . .
Comment:
Ok too many people are noticing haha