Just found this interesting data.
The chart shows the vertical line in blue marking the previous bitcoin halving. The Horizontal arrows show the days after the bitcoin halving. If you look closely, you will see that in the last cycle, bitcoin was also going through a little correction phase in which it dipped as low as 31% before continuing the market pump.
If you look at where we are at right now, we are still around the same time, give or take a few days, and price is going through the same correction. At this time we are around 25% dip from last ATH, so that means we could still go a little lower and possibly retest the last ATH breakout at 73k.
Another interesting data is the Elliot Wave post I published a few days ago showing that we are in fact in a W2 correction of this bull cycle, showing that it is still possible for the market to go a little lower, but that would also indicate that the next impulse wave (W3) would be even stronger.
Now, do you believe in coincidences? I believe in data and our lord and savior Satoshi.
*This is not financial Advice. I am a mere observer of the market, and this is my humble attempt at learning Elliot Waves analysis. Help me improve and tell me something I am missing.*
The chart shows the vertical line in blue marking the previous bitcoin halving. The Horizontal arrows show the days after the bitcoin halving. If you look closely, you will see that in the last cycle, bitcoin was also going through a little correction phase in which it dipped as low as 31% before continuing the market pump.
If you look at where we are at right now, we are still around the same time, give or take a few days, and price is going through the same correction. At this time we are around 25% dip from last ATH, so that means we could still go a little lower and possibly retest the last ATH breakout at 73k.
Another interesting data is the Elliot Wave post I published a few days ago showing that we are in fact in a W2 correction of this bull cycle, showing that it is still possible for the market to go a little lower, but that would also indicate that the next impulse wave (W3) would be even stronger.
Now, do you believe in coincidences? I believe in data and our lord and savior Satoshi.
*This is not financial Advice. I am a mere observer of the market, and this is my humble attempt at learning Elliot Waves analysis. Help me improve and tell me something I am missing.*
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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.