Every correction (widely known as "bear market") of a parabolic BTC move ended up in a touch of the supporting curve - which is also flattening and bigger parabolic moves can now have bigger retracement periods. All of previous corrections (which happened during an on-going multimarket bubble growht!) have something in common - a support that finally got breached - since that moment - the price entered a consolidation period - for about 100 to max 300 days. A situation that hasn't occurred before was the covid crash, which looks like an excuse to form a bottom by touching that curve.
This time we are far away from it - setting some kind of resistance on $18k area, but I have no doubt it will get breached - the only question is if we will go higher and then dump in a Covid 2020 way, or will we gradually bleed out until reaching the bottom - my personal bottomest bottom sits at $8-9k.
This time we are far away from it - setting some kind of resistance on $18k area, but I have no doubt it will get breached - the only question is if we will go higher and then dump in a Covid 2020 way, or will we gradually bleed out until reaching the bottom - my personal bottomest bottom sits at $8-9k.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.