The BTC Bubble Correction is OVER
Güncellendi
All bubbles go thru the same cycle: Hope, Optimism, Belief, Thrill, Euphoria, Complacency, Anxiety, Denial, Panic, Capitulation, Anger, Depression, Disbelief. Google "Wall St Bubble Chart." I'm sure most everyone has seen it. It's a market cycle, and simply put, it shows the fear and greed elements of human behavior. The point is, humans behave the same way time after time. The left side of the chart illustrates greed and the right side of the chart illustrates fear, with the stages of emotion in between. The only difference between any asset, equity, commodity, or crypto is what will happen when the bubble cycle completes.
I've illustrated my point by stacking a crypto (BTC), a commodity (Gold) and an equity (NASDAQ:CONN). All go thru the same cycle after their greed rally. Fear sets in when the consensus is that it is overvalued, and so the fear cycle begins, creating a severe downtrend and exhausting period of correction. You'll see that each forms a clear resistance (red line) during its downtrend, where the price gets rejected 3 times before it breaks the downtrend. BTC is finally at the end of its fear cycle and ready to break to the topside out of its symmetrical triangle.
This has been a long and turbulent downtrend with tons of FUD. I said back in April when we were below 7K and everyone was calling for BTC $3-4K (D4rkenergy, MPC included) that we would break out of the previous 3 month resistance and would not go below 7K again. They still called for $3-4K and I said we were going to 9K-10K. I was spot on, and in my previous post you'll see my call back down to 7400.
Now we will either move sideways here for a couple days or test near 7K, but within the next week expect a massive rally back to 9K and break of the resistance we have touched 3 times. The month of June should be a small rally back to the norm of a few weeks ago that will create momentum for a massive rally into July.
The turning point is here guys. Congrats to all of you who made it out alive or prospered off of this epic correction.
The Dark Horse
I've illustrated my point by stacking a crypto (BTC), a commodity (Gold) and an equity (NASDAQ:CONN). All go thru the same cycle after their greed rally. Fear sets in when the consensus is that it is overvalued, and so the fear cycle begins, creating a severe downtrend and exhausting period of correction. You'll see that each forms a clear resistance (red line) during its downtrend, where the price gets rejected 3 times before it breaks the downtrend. BTC is finally at the end of its fear cycle and ready to break to the topside out of its symmetrical triangle.
This has been a long and turbulent downtrend with tons of FUD. I said back in April when we were below 7K and everyone was calling for BTC $3-4K (D4rkenergy, MPC included) that we would break out of the previous 3 month resistance and would not go below 7K again. They still called for $3-4K and I said we were going to 9K-10K. I was spot on, and in my previous post you'll see my call back down to 7400.
Now we will either move sideways here for a couple days or test near 7K, but within the next week expect a massive rally back to 9K and break of the resistance we have touched 3 times. The month of June should be a small rally back to the norm of a few weeks ago that will create momentum for a massive rally into July.
The turning point is here guys. Congrats to all of you who made it out alive or prospered off of this epic correction.
The Dark Horse
Not
Not
I do believe it is possible we could break slightly below 7K to ~6800 before the rally. I have started building my long and will add to it if we move down further. I've put 30% of my max long position in for now. Will add 30% at 7100 and 40% at 6850, if we get there.Not
Get ready, big move up happening today/tomorrow to break 8K
Feragatname
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