VerthagOG
Long

BITCOIN . PRICE CONSOLIDATION

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Consolidation is generally regarded as a period of indecision, which ends when the price of the asset moves above or below the prices in the trading pattern.A resistance level is the top end of the price pattern, while the support level is the lower end of the pattern .
These two have been relying on technical factors 1000% and not acknowledging that the correction in 2014 had external factors (mt. got, silk road, new your bit license) that sent the entire market into a downward spiral. Also, there really were any serious coins except bitcoin at that time and there was little adoption and a use case of hopes and dreams. Now blockchain is much more relevant and there a number of coins with legitimate technical use cases so there is a lot more to this than just hopes and dreams.


Comment: Test of Resistance : Positive
Is is better to miss 100 trades rather than facing 50% loss
we saw BTC dominance fall in 2017 by huge factor, its failed to get back over 50% again, which i think is healthy for the market
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nice charting brother
+1 Reply
Interesting piece of fundamental analysis thanks Vertha!
+1 Reply
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