AlanSantana

πŸ…±οΈ No Correction.. Here Is Why!

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
This is what Technical Analysis (TA) is for, to look at things like the one I am about to show you.

A correction is not likely to happen now based on past history.

This is how Bitcoin behaves each and every time it goes into correction mode, we will look into 5 examples or maybe even more.

Take a few minutes of your time and let's do this... Boost! πŸš€ Ok!

We start with a period from June to November 2022.

See how Bitcoin reacts after hitting a resistance level /peak prices...

Every time a peak is hit, it is followed immediately by red candles, over and over.
This supports the bears.

Next, from September 2021 through May 2022.

See how Bitcoin reacts after hitting a resistance level /peaking...

Every time a correction is set to take place red candles, fast, happen the next day... No bullish consolidation, clear, straight down.

From January through September 2021, the same type of behaviour:
Now compare this with the current price action which favors the bulls...
Each time a new peak/high is hit, what follows is a consolidation phase.

This gives it away... Bitcoin is under bulls control.

Namaste.

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