STILL WAITING FOR BITCOIN TO GO AT 12K?

31 Okt 2023

This chart is simple. However there are some interesting points that i want to share with you.

FIRSTLY
In every bear market the drop from the top to the bottom was:
- First Bear Market, Top-to-Bottom -87.19%,
- Second Bear Market, Top-to-Bottom -83.97% and lastly,
- Third Bear Market , Top-to-Bottom -77.49%

It looks like in every new bear market the drop isn't as big as the previous ones.

SECONDLY
As we can see from the chart when Bitcoin was breaking out of this big orange triangles it was never coming back down again.
- First Bear Market, lasted for about 426 days,
- Second Bear Market, lasted for about 365 days and lastly,
- Third Bear Market, lasted, surprisingly the same days as the second bear market, 365 days.

You can say here that it might take more time as the first bear market which was 426 days but if you see the chart bitcoin is know high enough to avoid this situation.

LASTLY
Before Bitcoin starts to move into higher levels we always had a big drop.
The last big drop of the..
-> First Bear Market was: -52.35%
-> Second Bear Market was: -52.40%
-> Third Bear Market was: -50.83%

PERSONAL OPINION
To sum up all i want to say with this data in the chart is that the Bitcoin is not going to move to 12K level area as the bears were saying.
Moreover, as you can see in the chart there is an orange line that starts in 01/Feb/2013 until today. I believe that if Bitcoin jumps above this orange line the price is going to go in much higher levels.

Do you think BTC can go to 12K?

Thank you,
Best Regards

Christian

4 Dis 2023

Nota

UPDATE:
- From 1st of November/2022, when i posted my first (Newbie Idea as it was my first Chart), i was trying to explain how important role the biggest trendline of BTC plays. (Which is the Chart above, is the big diagonal Orange Line that BTC most of times is above it).

- TODAY:
04/12/2023 we can clearly see and understand why all this time i was mentioning this Orange Line. (I was trying to alert everyone about it also in my Twitter account).
Around $40400 was the area that we had to broke and when this area reached 41k came so fast as well as 42k.

- NOW:
At this point it's all in the hands of the Bulls - how hard are going to fight in order to protect this level of Bitcoin above this orange line.
I hope now everyone sees what am seeing in the BTC/USD Chart and will understand how important this line is.

- LASTLY:
Are you still waiting Bitcoin to go to 12K?;)


Kind Regards,

Christian