#Bitcoin looking to form a pink or blue coloured fractal box ?
If you have been following my previous posts you'll understand what I mean by pink or blue box. Importantly you've got to understand how Williams fractals are created. I guess there's always the chance that the market could change behaviour and catch everybody out by not forming fractal boxes (coloured box idea my own invention). For example what would happen if governments suddenly cut off the electricity supply to miners over sanctions or trade dispute? Would the price spike to $1,000,000 or drop to zero. Interruption of bitcoin mining is not something that I think has been ever factored into the market? What effect would such have on price? If Bitcoin price went too low Miners could just stop mining and push the price back up again Y/N
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If you look back on the chart the $6,000 low made in Feb ended up a pink box. Therefore blue, pink, or, no coloured box nothing guaranteed. NOT ADVICE ALL STANDARD DISCLAIMERS APPLY.
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It is easy to imagine that if Bitcoin is not limited to 21 million coins because any sovereign state can create as many more as they like then Bitcoin could crash to zero, or, not crash if more than 50% of Bitcoin remains anonymous Y/N?
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Being doing some studies with the weekly chart and bulls need to hold May 24 low or worst case scenario I reckon $6,250/$6,200. Also, closing above $8,523 on the weekly chart will be a key future target. Not advice, all standard disclaimers apply.
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Have posted amended "#Bitcoin work of art?" Feb 4th was Sunday not Feb 5th. Have amended shaded area to Feb 4th instead of Feb 5th and amended the yellow star position in my Stoch RSI.
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Just to inform of my latest post
#Bitcoin down to $6,700 here's a new bear idea.
#Bitcoin down to $6,700 here's a new bear idea.