BTC Trend Update
It seems that BTC has managed to escape the downtrend that it was entering. Yesterday I tried to identify a pattern on the basis of the way the scenario was developing.
However, it seems the graph is entering an uptrend which can be considered as composed of sub-stages made of three phases:
1) Uptrend (Green)
2) Downtrend (Red)
3) Bouncing (Blue)
An interesting observation to be made is that with the progression of these sub-stages, the Downtrend phase is flattening, leading to lower decreases in value and higher relative minimums.
If this uptrend were to continue, BTC could enter a growth assimilable to the positive scenario I identified with my post from March 21st.
Do you think this uptrend could be also influenced by the increase in the volume of searches related to BTC and the buying process?
In fact, the current value of web searches related to buying BTC around the world has reached approximately the same level it had around June 2019, when BTC value also soared (take a look at the current situation on Google Trends).
What do you think about it?
However, it seems the graph is entering an uptrend which can be considered as composed of sub-stages made of three phases:
1) Uptrend (Green)
2) Downtrend (Red)
3) Bouncing (Blue)
An interesting observation to be made is that with the progression of these sub-stages, the Downtrend phase is flattening, leading to lower decreases in value and higher relative minimums.
If this uptrend were to continue, BTC could enter a growth assimilable to the positive scenario I identified with my post from March 21st.
Do you think this uptrend could be also influenced by the increase in the volume of searches related to BTC and the buying process?
In fact, the current value of web searches related to buying BTC around the world has reached approximately the same level it had around June 2019, when BTC value also soared (take a look at the current situation on Google Trends).
What do you think about it?
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.