Bitcoin always makes a new high and then breaks support

2022年7月15日

Most of the time, the best way to understand the current trend is to look at the full picture. If you look at bitcoins past, you will see that in each cycle before a bull run, it creates a support and then launches off of that support to a new high. Afterward, it falls and not back to the trend line. It capitulates, falls through the old trend line and then starts a new pattern. Ever single bull run it has done this. Right bitcoin is close to the support that was created prior to the current bull run. Should we expect it to break the pattern this time? A lot of indicators are starting to flash green...but there is a major headwind with the stock market tanking, inflation high, the dollar skyrocketing. There could be a case for an anemic rally that would reset indicators, before one last push below the old trend line, pushing bitcoin lower where it will consolidate for the start of a new cycle. It makes sense to me.