Bitcoin's Market cycle - One of the most defined textbook examples of the market cycle cheat sheet we may ever see.
The chart is self explanatory showing the cycles we went through and the final phase we are now completing - Return to the mean (which is the center line of the pitchfork using candle sticks)
It's a very nice chart with all the right emotions, but this graph is originally based on the nasdaq bubble of 2000.
If you look in history, most other bubbles+bearmarkets, in particular silver, gold, BTC'14, amat, nikkei, intel, uranium, follow a different path.
This crater/cup is very normal and could be followed with another falling wedge and another crater/cup.
I am afraid this short term uptrend is only going to extend the bear market.
Poukitoun
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@Bullbrain, I am of the same thought too, XRP is ahead of BTC in terms of the fractal playing out. However I don't see a deeper correction below 3k, all depends what XRP is going to do in the next two https://weeks...https://ibb.co/GJyYNLc
@Poukitoun, please explain why xrp has influence on btc?
Poukitoun
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@Bullbrain, It don't think it has some major influence, but I have noticed some altcoins seem to move ahead of BTC or behind BTC but relatively all follow similar movements. What is interesting about XRP is that it seems to have very similar movements to BTC, that is why XRPBTC is extremely uniform, almost like a pendulum. So far in this comparison I have made, the movements are very similar ibb.co/GJyYNLc I used this comparison to buy at $3150 and I will sell around $7200-$8500 range. Let see how it plays out...
electo
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Legend.
abyssal_shine
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Shhh!!
KLYP_Investment
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love to see your educational data
ReallyMe
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So my original idea from January 4, 2019 at which many people rolled their eyes and commented "oh no, never ever" was probably right!
Today it looks like this. We will see...
If you look in history, most other bubbles+bearmarkets, in particular silver, gold, BTC'14, amat, nikkei, intel, uranium, follow a different path.
This crater/cup is very normal and could be followed with another falling wedge and another crater/cup.
I am afraid this short term uptrend is only going to extend the bear market.