Bitcoin -11 Years Monthly Close Study-
Bitcoin / TetherUSBinance
Description
⋅ It's weekend, the beginning of February and therefore time for a statistics update...
Bitcoin made an incredible jump!
42k is currently the POC of the range above... important!
In February we can expect a green candle statistically.
8 green and 3 red bars (monthly close) in the last 11 years.
Another red would fit there... :)
On average, we would expect +24% or -15% this month!
Is everything really different this time?
The monthly candle has formed a nice bottom so far?
it's like the wave before.
-51% and 3 monthly red candles ....
99 days. That was the duration of the last correction.
The "bottom" also happened to be the POC of the entire range
The red downward trend line (psychological) is broken !
But we are also right in front of the 42k wall.
42 is the answer to everything!
Visually a clear resistance!
At 47.5-48k resistance comes in again.
Of course, watch out for the 44.444!
For fun, an EW count scribbled in. without rules, only as it would suit me.
I counted the S&P500!
Monday could be exciting!
Statistics from January
PS: What did I learn this month?
This pattern:
It apparently repeats in different dimensions and or timeframes, just watch for it!
looks like hedge funds shorting and asses manager are hodling the bags
check out the Bart-Simpson Pattern!