Bitcoin : change of structure, possible slow and long decline
This is how i see the current Bitcoin crashing structure.
The breakdown below the 6k descending triangle broke the main bullish structure.
I am expecting a slow declining Usd value, in a sort of similar way of the first Bitcoin bubble.
Lonely differences: market cap, and time frame.
As you can see, the current crashing market is developping around 6x slower than the first Bitcoin crash, which makes sense considering the difference of capitalization.
It took Bitcoin around 135 days since the eventual current position in the same structure, to start a bull cycle.
Which means the current Bitcoin cycle could start a bull run in around 2 years.
Yes, this is a possibility.
Of course this is just some technical speculation, but this might not be far from what is about to happen with Bitcoin , 2 more years of bear market.
I could be totally wrong, this is just an hypothetical analysis. But this is something to be aware of, if you are feeling able to invest and wait for some years.
Stay tuned.
The breakdown below the 6k descending triangle broke the main bullish structure.
I am expecting a slow declining Usd value, in a sort of similar way of the first Bitcoin bubble.
Lonely differences: market cap, and time frame.
As you can see, the current crashing market is developping around 6x slower than the first Bitcoin crash, which makes sense considering the difference of capitalization.
It took Bitcoin around 135 days since the eventual current position in the same structure, to start a bull cycle.
Which means the current Bitcoin cycle could start a bull run in around 2 years.
Yes, this is a possibility.
Of course this is just some technical speculation, but this might not be far from what is about to happen with Bitcoin , 2 more years of bear market.
I could be totally wrong, this is just an hypothetical analysis. But this is something to be aware of, if you are feeling able to invest and wait for some years.
Stay tuned.
Comment:
Heading towards the descending triangle target, 2970$
Comment:
Closer and closer.
It might be dangerous to be in a short position right now.
The sides having last interests in Bitcoin are still here even if the market is tanking.
A short squeeze and a bull trap is not excluded around this area.
It might be dangerous to be in a short position right now.
The sides having last interests in Bitcoin are still here even if the market is tanking.
A short squeeze and a bull trap is not excluded around this area.
Comment:
*last =large*, phone auto dictionary error.
Comment:
Structure with the bull trap might be developping
Comment:
*pretends like this TA was garbage and nothing special is happening*
Comment:
Nothing to update, this chart is all needed for now until further changes of structure.
The current Btc local structure since the 3150$ bounce is starting to look bullish, especially regarding alts
The current Btc local structure since the 3150$ bounce is starting to look bullish, especially regarding alts
Comment:
I am still slightly on alert about this type of structure, less likely to happen now, but still a slight possibility imo
Comment:
Well well,
this means gfy for having told me to work go away and work on my own if i want to invest in crypto instead of regular stocks in your company
If you are reading this, f. you and your swatch on your wrist
this means gfy for having told me to work go away and work on my own if i want to invest in crypto instead of regular stocks in your company
If you are reading this, f. you and your swatch on your wrist
Comment:
Scenario recently invalidated, Btc almost certainly bottomed.