Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
⭐ Merited by JayJuanGee (1)
When was the last time BTC had 5 consecutive red weeks?
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wrong!
March 2020? I don't think so.
Sauce?
https://finance.yahoo.com/quote/BTC-USD/chart?p=BTC-USD
input 4/1 2019-4/30 2020 as dates, choose weekly barchart and...voila!
You sure, sir?
Duh! I told you how to reproduce the result. Instead, you put in some arbitrary numbers (that don't have enough time resolution).
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I did appreciate the beginning of OOM's response that seemed to start out by suggesting that the number of weekly red candles in a row did not necessarily have as much significance as Raja might have been striving to make it into, with his overly predictive attributions. However, even OOM likely recognized that his post devolved into something that seemed to be saying that no candles matter, and I doubt that he had really intended to say that.
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Yes. To make it short, i tried to say candles don't mean as much, compared to long term averages, like WMA100, WMA200 (to me, and Bitcoin).
The get-rich-quick times are most likely over for new entrants, however let's not forget how long it took Bitcoin to get here (from 1/5000s of a pizza's price), still Bitcoin has a long way to go and it looks like it's continuing going upwards. Unlikely, but possible, referring to the Supercycle theory (or -idea), get-rich-in-another-decade could still be a thing.