#bitcoin what Billionaire bulls need right now
This is the longest it's ever taken from a red vertical to form a fractal high or low in recent times. Is it because market getting ready for a different kind of drop or is something changing that again is going to change the pattern of recent times. It happened already once on 15th August when fractal high mist its target of the light blue Bollinger Band setting up an opportunity for bulls. A break in pattern would occur if price crosses 50% retrace at $6,774.4 and $6,731.3 which is the high of the yellow vertical bar. An Aroon brown bar would be helpful too.
Note: this is the second day above the high formed on the day with the red vertical bar. In recent times has not spent a day higher when going down
That's what I'm wondering. Market looking to make fractal high like before and then kiss kiss down we go (triangle).
Bulls nowhere near. 1% own over 50% of bitcoin and they got no power. What price is power? Is dog wagging tail or tail wagging dog?
$6,731.3 been broken so that pattern on the chart has also reached the end of a life cycle. I don't think it needs to close above it to be the case, but the case would look stronger if it did.
Found something to pump in next weeks news obviously.
"#bitcoin high today but take a lot more to wreck BIG PICTURE"