🅱️ No Correction.. Here Is Why! Long
Bitcoin / U.S. dollarBitstamp
Description
⋅ 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! 🚀 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.