Hi dear friends
Let's check the historical price action of Bitcoin after its peaks.
In the image below, you can see the price action of Bitcoin in the weekly time frame after its ascending peak in 2013.
As you can see, after the peak, Bitcoin has entered a downward channel with a relatively low slope that has lasted for 79 weeks.
The next one is the Bitcoin Price Action in the weekly time frame after the peak of 2017, in which the same scenario has been repeated for 73 weeks.
And the image below shows the same scenario after the 2019 peak on a smaller scale than the previous two price peaks.
According to the history of Bitcoin price action in the past peaks, I am not optimistic about the uptrend and expect the history to repeat itself.
Let's check the historical price action of Bitcoin after its peaks.
In the image below, you can see the price action of Bitcoin in the weekly time frame after its ascending peak in 2013.
As you can see, after the peak, Bitcoin has entered a downward channel with a relatively low slope that has lasted for 79 weeks.
The next one is the Bitcoin Price Action in the weekly time frame after the peak of 2017, in which the same scenario has been repeated for 73 weeks.
And the image below shows the same scenario after the 2019 peak on a smaller scale than the previous two price peaks.
According to the history of Bitcoin price action in the past peaks, I am not optimistic about the uptrend and expect the history to repeat itself.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.