Updated

Bitcoin Peaks (What's The Similarity Here?)

What similarities can you notice when looking at the Bitcoin Peaks?

Can you see it?

I am a Bitcoin and cryptocurrency bull, permabull as many would say...

But, here we have this chart, Bitcoin (BTCUSD) and even though so many people are bullish, I am still not convinced.

Not based on my imagination, but based on this chart and what I can see...
Here is the question again, what similarities can you notice when looking at these Bitcoin peaks?

Lower highs.
Prices closing lower each time.

This is a bearish signal and a very strong one.
Until a new high is achieved, we remain open to seeing Bitcoin's value decrease.

Everything can change, of course, but Bitcoin remains bearish until it hits a new high, until it hits a new peak.

Namaste.

Note

For those looking for a new update based on recent moves, here is the 4H timeframe for Bitcoin (XBTUSD) including an update for the Altcoins market...

Bitcoin (XBTUSD) Short-Term + Altcoins Update

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