Ok lines on a bitcoin chart here, everyone of them has a purpose as to why they are there. In this chart I give a broader perspective view with logarithmic chart data to give a more view that's has a more outside looking in effect on Bitcoin as a whole, and where we could potentially be right now in it's current cycle. Very briefly the main things I want to point out here are really 3 or 4 main things. 1st thing we of course have a price of around 20k that we will one day visit again for sure. But will we be visiting there so soon? OR, just maybe, we must first dive down much farther than what most expect or are comfortable with accepting as a very real possibility. There's an arrow pointing out a doji candle from the past. There's a yellow circle dictating where I believe we are currently at in this cycle. There's a white circle showing a pattern that has played out before where we supposedly bottomed at 3k. From what I see here that was not the bottom as is was too fast and has the specific pattern to it that resembles a lowercase letter n with staircase, almost sloppy set of back to back green candles followed by bullish price action. Very simply I believe this was not the bottom and the real bottom will be much further down. What we should look for if we do visit inside the green box I placed, is a smooth perfect curve upward in the candle formation as a parabolic curvature formation, perfect in a way like how algorithms form the candles that have a perfect curve or certain shape to them. Hope this helpes anyone wondering where we might be or where we could potentially be headed. Be safe and happy trading.
Kommentar:
The arrow pointing out the doji candle from 2015 I see as a potential void in liquidy and a zone that the price could just slip right through without a bounce at all. Liquidity voids are where big money can enter easier. Majority would place stops inside that zone. Some people out there actually still have leveraged longs from 2017 never realized profit from life circumstances or are HODLERS for life,that will get liquidated as or stopped out for extreme loss within that zone as price passes through like hot butter. If a billionaire wanted to convert every one of his billions in fiat into Bitcoin all at once, just carelessly at market, imagine amplified with leverage. The wick from the green candle resulting from the buy would exceed 20k and he would have orders filled where he wouldn't want and would be in a seriously nasty position for a while. A short getting stopped out initiates a buy on leverage, a long initiates a sell order. Large orders look for places with high probability of guaranteed sellers. Poola of liquidity are mostly sought for at lower prices as big or "smarter" money looks to get in for the long term, rather than seeking zone to fill a large short, which is short term and carries higher risk and potentially unlimited loss when dealing with leverage.
