I was toying around on charts and was inquisitive today.
This is NOTHING more than me just having some fun with some charts. That's it. Not a prediction. Just showing time overlaid.
This is NOTHING more than me just having some fun with some charts. That's it. Not a prediction. Just showing time overlaid.
In the 2018 bear market for Bitcoin, it took *332 days* from when the peak hit, until it started to capitulate.
If we drew that from the day Coinbase IPO'd, which was a 6-month top, and the height of On Chain activity and Retail Investor FOMO, we're on *day 331*.
If we drew that from the day Coinbase IPO'd, which was a 6-month top, and the height of On Chain activity and Retail Investor FOMO, we're on *day 331*.
Again, I'm not predicting this. I just wanted to show it.
That was the height of Retail FOMO.
Retraces are the most common thing to occur in Bitcoin and all markets before crashes happen. We have not had a retrace whatsoever.
That was the height of Retail FOMO.
Retraces are the most common thing to occur in Bitcoin and all markets before crashes happen. We have not had a retrace whatsoever.
But it will be nice to celebrate getting past that date.
In addition, Bitcoin and crypto tends to follow the stock market. Like I've shown, the Dow Jones is doing a typical corrective ABC structure with waves of equal length.
In addition, Bitcoin and crypto tends to follow the stock market. Like I've shown, the Dow Jones is doing a typical corrective ABC structure with waves of equal length.
But if the Dow started changing or something and the Dow started breaking below 32,000. We'd have something different. And, if that happened, it'd be back to the drawing board.
Otherwise, I thought it'd be celebratory getting beyond that timeframe of 332 days. 🙏🙌
Otherwise, I thought it'd be celebratory getting beyond that timeframe of 332 days. 🙏🙌
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