Psychology of the Bitcoin Chart
The Bitcoin chart is a fascinating piece of art. Everyone seems to trade it, but they know it will constantly out-perform every currency worldwide. Bitcoin has recently made new highs in other currencies, but nobody seems to understand, and want to only chart it in the U.S. Dollar, What they don't understand, is that "1 Bitcoin = 1 Bitcoin, Always & Forever".
Historically, we have always commenced a bull-market with a Rising wedge pattern, which is usually defined as bearish. This is also known as a "Bear Trap". I have highlighted these trends with large yellow circles & trendlines.
While searching the Bitcoin chart for any signs of a correction or bull market, I noticed something extraordinary. Bitcoin seems to have the same cycle every bull market. There are always 11 points to a bull market. I have highlighted these with Small circles & Path's.
1. The Anticipation Phase
Early signs of a bullish trend, marked by a brief dip that tests investor nerves.
2. Initiation of Correction
The beginning of a corrective phase, as the market adjusts from initial gains.
3. Shaking Out Weak Holders
A phase where less committed investors exit the market, leaving behind those with stronger conviction.
4. Euphoric Climax
The peak of optimism in the bull market, often characterized by significant price highs.
5. Maximum Fear Drop
A sharp decline creating a moment of maximum fear, testing the resilience of market participants.
6. Recovery Attempt
A temporary rebound from the initial peak, resembling a "dead-cat bounce."
7. Confirmation of Correction
A confirmation that the correction is ongoing, establishing a new low in the market.
8. Second Peak or Further Correction
A subsequent attempt to reach new highs or a further correction, shaping the overall market trajectory.
9. Preparations for Final Drop
The last descent before a potential significant downturn, often associated with heightened uncertainty.
10. Illusory New Bull Market
A deceptive rebound, leading some traders to believe a new bull market is beginning when, in reality, it marks the end of the current cycle.
11. Oversold Territory:
The most extreme point of a bullish cycle, signaling the imminent transition into a bear market phase.
Thank you, everyone, for taking the time to read this. My hope is that this provides reassurance and empowers everyone to make informed decisions, seizing the opportunity to secure profits at the peak.
The Bull Market Has Begun.
Historically, we have always commenced a bull-market with a Rising wedge pattern, which is usually defined as bearish. This is also known as a "Bear Trap". I have highlighted these trends with large yellow circles & trendlines.
While searching the Bitcoin chart for any signs of a correction or bull market, I noticed something extraordinary. Bitcoin seems to have the same cycle every bull market. There are always 11 points to a bull market. I have highlighted these with Small circles & Path's.
1. The Anticipation Phase
Early signs of a bullish trend, marked by a brief dip that tests investor nerves.
2. Initiation of Correction
The beginning of a corrective phase, as the market adjusts from initial gains.
3. Shaking Out Weak Holders
A phase where less committed investors exit the market, leaving behind those with stronger conviction.
4. Euphoric Climax
The peak of optimism in the bull market, often characterized by significant price highs.
5. Maximum Fear Drop
A sharp decline creating a moment of maximum fear, testing the resilience of market participants.
6. Recovery Attempt
A temporary rebound from the initial peak, resembling a "dead-cat bounce."
7. Confirmation of Correction
A confirmation that the correction is ongoing, establishing a new low in the market.
8. Second Peak or Further Correction
A subsequent attempt to reach new highs or a further correction, shaping the overall market trajectory.
9. Preparations for Final Drop
The last descent before a potential significant downturn, often associated with heightened uncertainty.
10. Illusory New Bull Market
A deceptive rebound, leading some traders to believe a new bull market is beginning when, in reality, it marks the end of the current cycle.
11. Oversold Territory:
The most extreme point of a bullish cycle, signaling the imminent transition into a bear market phase.
Thank you, everyone, for taking the time to read this. My hope is that this provides reassurance and empowers everyone to make informed decisions, seizing the opportunity to secure profits at the peak.
The Bull Market Has Begun.
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