Every bitcoin bullrun so far has had pullbacks ,will history repeat itself, at this point we cant deny the fact the stock to flow model is still intact .
www.lookintobitcoin....stock-to-flow-model/
So everything is setting up what looks to be the first pullback of this rally , as you can see we are coming up to very strong Fibonacci log band , this log band has a history of extreme resistance and volatility (Red circles ).
A pullback of 30% would bring the price down to about 24400 Dollars which would close the CME gap created that that price , all CME gaps get closed so at one point if you look back at the charts. (Yellow Circle)
The month of January is historical bitcoins worst preforming month.
www.lookintobitcoin....stock-to-flow-model/
So everything is setting up what looks to be the first pullback of this rally , as you can see we are coming up to very strong Fibonacci log band , this log band has a history of extreme resistance and volatility (Red circles ).
A pullback of 30% would bring the price down to about 24400 Dollars which would close the CME gap created that that price , all CME gaps get closed so at one point if you look back at the charts. (Yellow Circle)
The month of January is historical bitcoins worst preforming month.
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