BTC long term
This chart is a monthly chart of Bitcoin (BTC) against the U.S. Dollar (USD), showing historical price movements and potential future scenarios based on the chartist's annotations. Here’s an explanation of the key components:
Bitcoin's price peaking around $69,000 before experiencing a significant drop.
- There are trendlines indicating past price movements and possible future resistance or support levels.
2.
- **#1 "2018-2022 We had a divergence Along with liquidity grabs. We dropped -50%"**: This refers to a period where Bitcoin experienced a divergence, typically when price moves in one direction while a technical indicator moves in another, suggesting a potential reversal or significant price movement. The liquidity grabs imply there were price moves aimed at triggering stop losses or attracting retail investors before a drop.
- **#2 "The Greedy Shake Out"**: This indicates a period where the market experienced a sharp decline, shaking out (or forcing the exit of) weak investors who were overly optimistic or greedy.
- **#3 "Greedy Shake Out, Ready for the last Run Of the year…"**: Suggests that after a correction or shakeout, there might be another bullish move before the year ends, possibly leading to a new high.
- **#4 "Once BTC finds its Last Top, Then we can proceed with a bear Market"**: This suggests the chartist expects another significant peak before Bitcoin enters a prolonged bearish phase.
This is analyzing past trends and speculating on future price movements based on patterns and historical behavior. It suggests potential for further upward movement before a significant downturn.
Bitcoin's price peaking around $69,000 before experiencing a significant drop.
- There are trendlines indicating past price movements and possible future resistance or support levels.
2.
- **#1 "2018-2022 We had a divergence Along with liquidity grabs. We dropped -50%"**: This refers to a period where Bitcoin experienced a divergence, typically when price moves in one direction while a technical indicator moves in another, suggesting a potential reversal or significant price movement. The liquidity grabs imply there were price moves aimed at triggering stop losses or attracting retail investors before a drop.
- **#2 "The Greedy Shake Out"**: This indicates a period where the market experienced a sharp decline, shaking out (or forcing the exit of) weak investors who were overly optimistic or greedy.
- **#3 "Greedy Shake Out, Ready for the last Run Of the year…"**: Suggests that after a correction or shakeout, there might be another bullish move before the year ends, possibly leading to a new high.
- **#4 "Once BTC finds its Last Top, Then we can proceed with a bear Market"**: This suggests the chartist expects another significant peak before Bitcoin enters a prolonged bearish phase.
This is analyzing past trends and speculating on future price movements based on patterns and historical behavior. It suggests potential for further upward movement before a significant downturn.
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