What I wanted to show on this chart should appeal to Bitcoin holders!😄
Nowadays a lot of guys just leave the market because last weeks have been so hard and a lot of traders have lost their money!
That's understandable, you must have a rest!😇
But that's not a reason to sell Bitcoin at a loss! Until the end of the year, the price may rise into several times!
On the chart, you can see 3 cycles of price movement history!From the first halving to the last!
After analyzing the whole history, I can say that the price is unlikely to go below 30-32k!
Anything is possible on the market, and each of us is responsible for our actions and decisions.
But one thing I can say for sure: there is no place for panic! You need to sell by growth, don't be greedy! And corrections are for buyings! (in a bull market)!
I suggest you remember my post about fears in trading! It is relevant now)
I really hope, that my post was useful to you, if so, let me know by clicking like button! It's not difficult for you, but I'm pleased ♥ ️
@samjohnson2126, utter garbage i agree. Most people need to be led and i understand why this content creator has alot of followers. She shows investors what they WANT to see.
A good analysis would be including the 200 MA and the pending deathcross 😉
ich1baN
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@Cyrus74, how do you not see where we are in the respective cycle when compared to 2017 and 2013 lol... there wasn't even a blowoff top - this actually matters when forming an actual peak in a bull market
testertje777
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@ich1baN, things are not the same. Institutions have arrived and are playing the game differently.
As an example: 500B USD had left the market and took its way back into the market on May 19 in a matter of hours.
For bitcoin to create a blowoff top during this bull run it will need to attract WAY more money than back in 2013 and 2017.
Who will push the price? Retail money? Institutions are likely re-accumulating now after they distributed their holdings and basically ran away with a ton of retail money.
If we match history, this bull run will only take until September, but I feel institutions are not going to FOMO their way into a market.
They accumulate and take their time, so it could be that this bull run will be extended? In that case, what happened in the past, will not necessarily repeat today.
So I agree that this analysis is pure garbage and based on nothing but events that happened in the past.
ich1baN
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@testertje777, Yea I don't buy that theory - whales won't get pumping bags from retail if it sells off more. Retail doesn't come into assets that are down - retail buys tops, not bottoms.
xlameee
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@testertje777, There are cycles everywhere in live, in nature, in universe Why do you think the market is something different? All of those charts are base on the data from the past and we use that data to make predictions. "Institutions have arrived" hahahah yes with their spaceships :)
testertje777
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@xlameee, I have nothing useful to comment on this, except this useless comment.
ShockwavePulsar
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@ich1baN, LOL, my man.. the market moves the way it wants, it fluctuates.. put it on the monthly and you have your blowoff top, put eth on the daily and you have your blowoff top. The only thing you can relatively anticipate is how the market moves in the near future.. everything else is noise. I didnt need to be led by any shiller,youtuber or self proclaimed expert chartists to notice the dropping volume on the utad at 65k. That was the only red flag i need to sell all. Im buying 15k thats a 80% decline and 20k a 70% decline.