Groovy chart....lol....I have been waiting patiently for what seems like an eternity for this ridiculous ascending (bearish indicator) wedge to collapse....but still the moonboys hurl themselves against the charts...like yachts onto rocks.
I think I know what is going on....I think we may be right smack in the middle of the denial phase...the phase which immediately precedes capitulation. Today, the price of Oil had a negative value for the first time in history. A barrel of oil is currently worth minus two dollars (-$2). Buckle up for capitulation. This is gonna be so cool
UnknownUnicorn5106171
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Interesting observation, but I doubt bitcoin will ever break 3,000, there will always be extreme amount's of buying pressure at that level so anything lower I find to to be unimaginable, without some sort of catastrophic BTC related news of course.
Then again, who knows right?
Check out my 5 year long wedge theory, it's panned out almost identically to the price moment we have seen over the past 6 months :)
The_Bubblemania
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@ObviousTrendLines, more imagination my friend. Remember 2018 and 6k level steel support and strong first and weaker and weaker following bounces and final capitulation ? Trade this fractal at 4-3K as market behaviours rhyme. The first capitulation target should be the Mean with wicks to 1,8K support. Then we will see how the general econonic situation develops as this asset is the child of last 5th wave of SPX multidecade growth now under correction.
skeromero
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aha
saif-khan
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thanks
astromaniak
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BTC is not Bitcoin after segwit in 2017.
Now BSV is real Bitcoin from White Paper nad will replace BTC in future.
Segwit coin (BTC) will be shorted to zero in next years.