Price formes a Bearish-flag like structure and falls sharply after a breakout, similarly I expect the price to range and form a trend continuation pattern again.
Push LIKE & SUPPORT the Idea...
*The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
here's the analysis
If you observe a consistent pattern in nature that can be defined algorithmically that pattern exists despite randomized and non-repeating occurrences (hacks, elon musks tweets, China's financial policies, etc etc etc.)
First peak in 2011: 32$. Second peak in 2013: 1137$ Third peak in 2017: $19460.
Multiple Increase 2011-2013: 35.5X
Multiple Increase 2013-2017: 17.2X
Multiple Increase 2017-Date Y: good chance right around 8x.
Multiple models including stock to flow, log regression equations, time analysis from halving to peak price, and my above method (which insinuates the factor by which a subsequent peak exceeds the previous decreases at a steady rate of about 2) indicate this is the first major correction on the way to a peak which is at minimum approximately 3X what the price currently is as I type this with that peak happening up to a year from now.
Selling the dip out of fear is about the worst possible trading strategy; in fact it is not a strategy. It is impulsive emotion. I bought in at averages prices of ~8K before the march 2020 crash based on the above knowledge and I used my diamond hands and nerves to sit back and do nothing when the price crashed to 4K. I held off buying more at those prices out of fear the crash may continue. Had I been smart and paid attention to analytics I should have been gobbling up more at those prices and if I were really smart I woulda sold more coin than I did before the crash to gobble up an even greater portion of that dip than I could have otherwise.
Good chances those people who caught that liquidation wick yesertday in the 30-35K range per coin will be the last people on earth to ever get their hands on bitcoin at that price. In another 3 years you may have the chance to buy in the 40-60K range at the bottom of the next bear market.
Could I be wrong? Ya.
And yup, bitcoin is not a mature market; it will eventually stabilize at some relatively tight value in a few couple decades.