Bitcoin will have the most important monthly candle closing tomorrow. See the big wick in 2017 last green candle and it was end of bull season. In 2019 also, we had a big wick and then a long bear market. This month's candle also have a big wick
But bitcoin still have one day and maybe if could pump again to 37-38k, our bull season will remain intact, else is this the signal of end of bull market ?Who believes in candles when we are talking about crypto and speculations?! The last candle, precisely the one shown in the graph, results from Elon Musk's tweet bio and FOMO buyers. Now the price is back to the levels before the tweet.
This is a monthly chart and not a daily chart which shows the candle of pump due to elon musk. Although crypto is highly volatile, most of the time the price moves according to the candle sticks pattern. I am still worried about the monthly closing today.
My Bad, I should be more precise. Obviously, it's a monthly graph as Bitcoin is under $10k most of the time.
Candles are maybe more accurate in the long term, but they are not in the short term for crypto.
I meant, IN SHORT TERM, I can't believe in a single technical analysis, candle or graph when a single tweet, a fake double-spend FUD or similar news can move the price 15%-20% in minutes.