Sometimes the healthiest thing you can do in Bitcoin is zoom out and take a look at the big picture. It's only then that you'll realise that a rather fundamental pattern has been repeating throughout 2018...
Following the hype at the end of 2017 and consequential bubble, January 6 marked the beginning of a huge drop removing more than 60% of BTC's value. The turning point? February 6... which took Bitcoin's value up until March 6 and the beginning of a steady decline.
When did that finish? April 6... and the start of another nice consistent climb, only interrupted on May 6, but the beginning of yet another decline. Human behaviour moves in some incredible patterns (and have led to numerous invaluable charting tools, such as Elliott Waves and Fibonacci Retracement).
The question is, was this just five coincidences in a row, or will June 6 mark the beginning of another month of healthy Bitcoin growth?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Following the hype at the end of 2017 and consequential bubble, January 6 marked the beginning of a huge drop removing more than 60% of BTC's value. The turning point? February 6... which took Bitcoin's value up until March 6 and the beginning of a steady decline.
When did that finish? April 6... and the start of another nice consistent climb, only interrupted on May 6, but the beginning of yet another decline. Human behaviour moves in some incredible patterns (and have led to numerous invaluable charting tools, such as Elliott Waves and Fibonacci Retracement).
The question is, was this just five coincidences in a row, or will June 6 mark the beginning of another month of healthy Bitcoin growth?
Please give me a thumbs up and follow me if you found my analysis interesting. This is for educational purposes only and not a recommendation to buy or sell.
Comment:
Will be interesting to see if anything happens today... the 6th of the month has almost always proved pivotal throughout 2018.
Then again, the Bitcoin market always did do the opposite of what is expected.