PeterLBrandt

$BTC Bitcoin has the feel of half way home

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
In terms of the sentiment and character of the price action, it feels to me as if the current Bitcoin advance is at that point marked with red arrows from the two previous parabolic advances. The current parabola could correct back toward $30,000 without any damage to the market. The bull trend in 2015-2017 experienced nine corrections greater than 30%. The current market has reached just short of a single 30% correction. I am NOT predicting a 30-40% correction, just pointing out that we should expect sharp corrections as some point. The fact that this trend has not yet corrected more than 30% since the Mar 2020 low is an indication of extreme underlying support and internal market strength.

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