Bitcoin Observation Butterfly Bear Top
Something I noticed thought I share.
Looks like we had a butterfly happen and it broke down bearish into the New Year, I typically consider that bearish if the chart has some sort of parabolic nature to it. Many would or could say bear trap on macro (which could be still true). No indicator or pattern is fixed but yet its is variable and ever changing and entropic. If there is a force that which can be applied that can alter the movement and direction of anything as easy as a simple thought and action it can change and alter the projected state of direction. Therefore no projection of price at random is definitive unless the will of force (buying or selling) by one or many people is applied.
Considering the current state of price in this state. A quick rebound to 60k or 65k could be a good indicator of new all time highs are nigh. But if we have a bounce with a lower high or straight down I expect bear action till 2024-2025.
Things change.
100k was the goal and failed we have to reach in this current cycle. Unless we if things change.
Accept change, not pocket change. -me
Looks like we had a butterfly happen and it broke down bearish into the New Year, I typically consider that bearish if the chart has some sort of parabolic nature to it. Many would or could say bear trap on macro (which could be still true). No indicator or pattern is fixed but yet its is variable and ever changing and entropic. If there is a force that which can be applied that can alter the movement and direction of anything as easy as a simple thought and action it can change and alter the projected state of direction. Therefore no projection of price at random is definitive unless the will of force (buying or selling) by one or many people is applied.
Considering the current state of price in this state. A quick rebound to 60k or 65k could be a good indicator of new all time highs are nigh. But if we have a bounce with a lower high or straight down I expect bear action till 2024-2025.
Things change.
100k was the goal and failed we have to reach in this current cycle. Unless we if things change.
Accept change, not pocket change. -me
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.