“It will take years for the market to recover, I told you…”
These are the messages that have fallen in my direction over the past few days.
he is Bitcoin the death? far from.
he is Bitcoin At $31,000 a dead idea? far from.
he is Bitcoin To $120,000 a dead idea?
Why so bullish? On the weekly chart above:
1) Strongest buy signal in history BTC Price action prints (not shown).
2) Strongest weekSince August 2015 (below). These deviations are measured over a 110-day period.
3) Price action is down about 80% from its peak. look to the left. The 2018 correction was 83% from top to bottom. 2015 corrected 86% from peak to trough. Did you notice a pattern? Who cares if that extra pressure is achieved to an 80% correction or not, here’s the chance. Bear market bottoms are always the worst, be patient.
August 2015 weekly chart