Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Back to price analysis....
3.5 month parabolic run at the initial stages of breaking down
https://www.tradingview.com/x/PtdtsMU7/
And what should we expect from this?3.5 month parabolic run at the initial stages of breaking down
https://www.tradingview.com/x/PtdtsMU7/
Parabolic breaks almost always lead to
1) Strong retracements back (~85% - 60% if I recall, don't have the stats in front of me atm)
2) Macro trend reversals (think of bitcoin run ups and what happens, like after btc hit $20k)
Yeah, but we have already had our 85% correction down to $3,122. Remember December 2018?
We are getting another 60% to 85% correction from the $13,880? That makes hardly any sense.
Now if you were talking about a 60% to 85% correction from some kind of new ATH or something like that, then you might be starting to make some senses. Perhaps?
In other words, the impression that I am getting is that you are one of those loonies or shills who are spreading disingenuous pie in the sky thinking rather than attempting to grapple with on-the-ground BTC price dynamic realities.
Lol bless your little heart.... you were so quick to lash out, you didn't read the chart right. It's inverted. The parabola I'm showing is from ~13.8k to ~7.8k. I'm suggesting the downtrend is about to macro reverse or at least "pull back" ~60 to 80%.
Personally, I'm guessing it's a macro reversal. We need to start slow grinding up to the previous ATH over the next ~6 months or history won't repeat itself like the world is expecting.