Not all climbing is worth applause, and the latest one of Bitcoin definitely feels that she asks that without getting it completely. Hover above 84,500 dollars at the time of the press, BTC is technically higher, but what highlights more than the price is the shape of the step: a height wedge.
It is not the most exciting style of talking about it, but it is a relevant pattern because it tends to appear when enthusiasm begins to dilute even as prices drop up.
The highest levels are higher and lower above – definitely – but on paper, perhaps only on paper, because the energy behind the batch does not seem to be present. The size was imagined. Every bob seems to be waiting for someone to believe in, and there is not enough people entering.
These types of moves, where momentum and participation fade, tend to withstand a somewhat quiet warning: not that the accident is imminent, but that confidence in the direction is quietly pulled.
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Then there is a weekend issue. When BTC fell to $ 77,000 in the previous week, Michael Sailor entered Microstrategy with one of the purchases of another address, and the market-as it often does. The apostasy was real, but its sustainability is still a question.
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Historically, the Silor purchases are detected after one day, which means that the market had two days of feeling stronger than it was most likely, mostly through this individual act and the chain interaction of the references that followed.
The two is the place where things are usually normalized, especially with the opening of CME. If the usual behavior is repeated after the invention, a decline, may return to 79,000 dollars, is not out of reach.
