Bitcoin's Supposedly Blow Off Top
Updated
This is the real photo in scale. The chart when posting the idea made the bar patterns all skewed.
Hi everyone,
Thank you for considering reading my idea. Please note that this is just my opinion.
I think the reason why Bitcoin didn't get a blow off top (IF April was supposed to be the peak) just like what happened in 2013 and 2017 peaks is because we had a series of distribution at 64k. It is possible that retail FOMO came in batches and not in one whole batch. Obviously, this is not how it works but let's assume we connect the green boxes together, then the red boxes together. We would have a $120,000 per Bitcoin peak.
The 69K we experienced back in November 2021 could be the relief rally of that 120k peak. If we also get this peak, the bear market pattern (see related idea below) would have made more sense.
Of course, past is past and let's move on. But would you have considered this peak? What other things would have happened or would have NOT happened if we get this peak? Please leave your thoughts below!
Thank you for reading my idea. Like this idea and follow me for more ideas like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
Hi everyone,
Thank you for considering reading my idea. Please note that this is just my opinion.
I think the reason why Bitcoin didn't get a blow off top (IF April was supposed to be the peak) just like what happened in 2013 and 2017 peaks is because we had a series of distribution at 64k. It is possible that retail FOMO came in batches and not in one whole batch. Obviously, this is not how it works but let's assume we connect the green boxes together, then the red boxes together. We would have a $120,000 per Bitcoin peak.
The 69K we experienced back in November 2021 could be the relief rally of that 120k peak. If we also get this peak, the bear market pattern (see related idea below) would have made more sense.
Of course, past is past and let's move on. But would you have considered this peak? What other things would have happened or would have NOT happened if we get this peak? Please leave your thoughts below!
Thank you for reading my idea. Like this idea and follow me for more ideas like this. NFA . TAYOR. DYOR.
Cheers,
Juvs
Note
Anyway, I know it does not work this way. This is just a what if.
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