Bitcoin tends to go up after a year of down
It's almost time for Bitcoin to start going up again
The macro environment is awful.
Sentiment is awful.
People are calling for $10k.
But... the chart says otherwise...
Based on past chart patterns we have likely already bottomed and are starting the sideways period before moving up...
Check it out:
(Source: https://twitter.com/rovercrc/status/1609872758355238913/photo/1)
We just exited the year long draw-down and are now moving sideways.
Based on this chart pattern the sideways price action has already begun and the lows are likely in.
History will tell us whether or not the chart pattern wins out or the macro environment.
Upvoted! Thank you for supporting witness @jswit.
It's interesting to see the analysis of the Bitcoin chart and how it suggests that we may be entering a sideways period before potentially moving upwards again. While the macro environment and sentiment may not be favorable for Bitcoin at the moment, the chart pattern and past history suggest that the lows may already be in and we could be due for a turnaround. It will be interesting to see how events play out and whether the chart pattern or the macro environment ultimately has more influence on the price of Bitcoin. In any case, it's important for investors to do their own research and analysis before making any investment decisions, and to be mindful of the potential risks and uncertainties involved.
I think risk is involved only if anyone is investing for short term!
To the moon
That'll be good if bitcoin goes back up