Analysis of strange monthly candles in Bitcoin: 28k and 250k !!!
Hello Dear friends
I have been following the Bitcoin price trend for some time, and the interesting thing for me is the Bitcoin movement trend over the past few years and the role of monthly candles in it. Every time we see astronomical and intense growth for Bitcoin, two monthly green candles are formed in a row! We have already seen two monthly green candles in the last two months!
Now look at the vertical line drawn. This line shows the 4-year history of the increase in extraction difficulty, and it is precisely between the network difficulties that we have the formation of an increasing triangular pattern.
Now see for yourself the similarities between these two periods.
Tip 1: Triangle pattern
Tip 2: The end of the triangle and the exit time of the triangle increase the network stiffness
Tip 3: Form two monthly green candles in a row
You may have heard many times that analysts have predicted a price of $250,000 for Bitcoin, and you have asked yourself on what basis they say this price? One of the reasons we hear so much about this price is the calculations you see on the chart, citing the price movement in previous periods.
My personal opinion is another good and amazing growth for Bitcoin and I think it will soon see a way out of the monthly triangle and reach the price of $28,000 . The $28,000 calculation is based on the triangle side and the triangle pattern law.
...Navid...
I have been following the Bitcoin price trend for some time, and the interesting thing for me is the Bitcoin movement trend over the past few years and the role of monthly candles in it. Every time we see astronomical and intense growth for Bitcoin, two monthly green candles are formed in a row! We have already seen two monthly green candles in the last two months!
Now look at the vertical line drawn. This line shows the 4-year history of the increase in extraction difficulty, and it is precisely between the network difficulties that we have the formation of an increasing triangular pattern.
Now see for yourself the similarities between these two periods.
Tip 1: Triangle pattern
Tip 2: The end of the triangle and the exit time of the triangle increase the network stiffness
Tip 3: Form two monthly green candles in a row
You may have heard many times that analysts have predicted a price of $250,000 for Bitcoin, and you have asked yourself on what basis they say this price? One of the reasons we hear so much about this price is the calculations you see on the chart, citing the price movement in previous periods.
My personal opinion is another good and amazing growth for Bitcoin and I think it will soon see a way out of the monthly triangle and reach the price of $28,000 . The $28,000 calculation is based on the triangle side and the triangle pattern law.
...Navid...
Related publications
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.