How long could a bullrun around 80 degrees be sustainable?
On the 1W chart, we see a bull run of almost 90 degrees!
The answer is, not long. We have missed many bearish opportunities lately, including the last bearish rising wedge pattern that Bitcoin broke out of. A correction must happen in order for a healthy bullish pattern to be established. Otherwise the losses will be incredible and quick.
I would say any day moving forward, if the price stops being manipulated, we should see a return to normal.
On the 1W chart, we see a bull run of almost 90 degrees!
The answer is, not long. We have missed many bearish opportunities lately, including the last bearish rising wedge pattern that Bitcoin broke out of. A correction must happen in order for a healthy bullish pattern to be established. Otherwise the losses will be incredible and quick.
I would say any day moving forward, if the price stops being manipulated, we should see a return to normal.