In this analysis ill be discussing the possibilities of a bull run trigger. I began contemplating why we would ever break 6K in the first touch and i think i have found my answer. In the past, the only thing i can place that starts a bull-run is attacking the major use case of bitcoin right now. As much as i sound like a boomer "bitcoin is used only for drugs" i think it for sure has something to do with it right now. The amount of money that is used in purchasing on those markets is huge, when one goes down all the users and vendors are affected. Losing money in the cold wallets, and escrow those buyers who have street businesses now have to go buy spot BTC regardless of its price. Previous Shutdowns:
On OCT 1 13 SILK ROAD 1 IS APPREHENDED PRICE: 128 - 1120 On JULY 20 17 ALPHABAY IS APPREHENDED PRICE: 2XXX- 20000 ON MAY 3 19 WALL STREET IS APPREHENDED ( WHAT A FUCKING COINCIDENCE) PRICE: 6000 - ?????
If we follow this pattern its always a 10x from when the market is shutdown, so 60k would be the price related to pattern.
This is quite a correlation you have there. Let's see if it works.
PhilupMyBags
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@welcome_universe, We will see :) not a prediction just a notice in repetition
rafblz
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@BryptoBrad, do you think that the current situation with USDT would have some relation with the current trend? I've seen some interesting suggestions in that regard.
Jeff_Cryptopop
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The only thing is, those first two had volume to match the run. We no longer have that kind of volume. If you look one any of the charts, 1H, 4H, 1D, we already had some bearish divergences forming. Now we have big huge ones as the price is rising, but demand is now tumbling. The scary thing is that 6000 never tested as support on the way through and 5500 is only minor. WHEN this bull run is exhausted (and it's already looking that way but could go to 7500 before correction) it's going to dump hard. Really hard. Not 10% dump hard either. I mean grab your profits while you can and reinvest at the bottom.
kitkat16
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thanks for the chart mate. What do you mean wall street is apprehended?
Thankyou
PhilupMyBags
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@kitkat16, Wall Street market sorry for the confusion
PhilupMyBags
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@kitkat16, the darknet shop called wallstreet market