Bitcoin optically discerning the most extent on an up week in roughly two years

jondoe (83)in #bitcoin • 2 days ago

This pass up is different...

Bitcoin has moved up afore solely to give all the benign properties returned in the days that followed.

How1826ever, there is a distinction with this modern move...

Volume.

During the precedent week we just had the impeccable volume week in roughly 2 years on bitcoin.

Check it out:



(Source: https://twitter.com/MatthewHyland_/status/1615079182962229263/photo/1)

As you can visually perceive, the remaining time we had a hebdomadal candle with this a great deal extent it was tardy 2021.

Not pretty two years, but you get the point, it is been a while.

The closing time there was once this lots extent the fee used to be roughly $40k and it had been strolling for four months beginning around $10k.

When you cumulate this extravagant volume weekly candle with the downtrend eradicate and there is a very good hazard this go up is the commencement of a much more immensely colossal move.

There will be dips alongside the way, but the course of least resistance is probably to be higher over the coming weeks and months, even though incipient highs are no longer expected any time anon.

Past patterns and cycles point to the all times highs no longer reached till roughly 2025, so this go isn't liable to be the immensely colossal move.

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2 days ago in #bitcoin by jondoe (83)

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jondoe (83) 2 days ago

The very best volumes are commonly viewed at tops and bottoms, and this is not occurring after a sizably voluminous run up...

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jswit (59) 2 days ago

Upvoted! Thank you for availing witness @jswit.

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