THE BIG PICTURE - Two steps forward, one step back!
Welcome Crypto believers!
Let's take a look at the weekly chart. Since the first big Bull run, back in 2013/2014, BTC has done some interesting moves.
We can see that after the run, the correction lasted almost a year inside a downtrend channel that took it down more than 50%, starting to accumulate after that. It entered an uptrend channel that pulled back when the two channels crossed but recovered and kept going.
Now is the most interesting part. Notice that when it reached the peak price of the first bull run, for the second time, it broke it up entering a new uptrend channel! That lasted until now.
Looks like we are taking another step back and by the amplitude of the new downtrend channel it is not going to be slight.
Stay Safe!
Let's take a look at the weekly chart. Since the first big Bull run, back in 2013/2014, BTC has done some interesting moves.
We can see that after the run, the correction lasted almost a year inside a downtrend channel that took it down more than 50%, starting to accumulate after that. It entered an uptrend channel that pulled back when the two channels crossed but recovered and kept going.
Now is the most interesting part. Notice that when it reached the peak price of the first bull run, for the second time, it broke it up entering a new uptrend channel! That lasted until now.
Looks like we are taking another step back and by the amplitude of the new downtrend channel it is not going to be slight.
Stay Safe!
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