Are We About To See A Clear Pattern Emerge

Technical analysis got lots of us thinking that the market has a pattern and it follows it, according to some traders they say the market speaks, all they need to do is listen. But do you believe in the market chart and how it speaks? Technical analysis is just using pas market movement to predict the future movement. In some wys it works but I have given up in relying my full strategy on just that. The fundamental still stays as the best and most reliant to make money in the market. But for some time now, it seems like bitcoin is following a pattern that should be considered less coincidental right now.

I have not been in the crypto space for a long time but from the little time I have spent here, I think the pattern has caught my attention. Its no doubt that since the creation of bitcoin, the prices has always been up, but the bear season always made the crypto community feel like winter and makes it seem like the bear season prolongs more than the bull season. The bear season seems like a long plank exercise if you know what I am tallking about. From the bitcoin chart it is perceived that from the year 2011 till date the bitcoin price has been following a 3 year Up and a following 1 year down pattern. From 2011 to 2013 the price of bitcoin was going up and increasing, but when it got to 2014, the price started declining. This was due to a lot of reason, we have the Mt.Gox hack and the silk sonic shut down, then we started seeing a massive decline after then, this made allot of people think that bitcoin was dead. It took just 2014 for the price of bitcoin to decline from almost a thousand dollar price to go below $400.

2015 got the price of bitcoin increasing slowly, even if the price didn’t have a massive pump, the price was increasing gradually, we saw this happen from 2015 to 2017 that was when bitcoin got to ridiculously high All Time High of $19k, this made bitcoin trend, this was the year I got to sit down and listen to bitcoin to know what it is or what it does. But unfortunately, the next year after that which was 2018, we started seeing another crypto winter, the price of bitcoin started declining, I was among those people that bought the top as at then. So from this space to the present, I have been very active in the crypto space. Just like the rest of the pattern, the price of bitcoin fell from $19k to $3k within that year, then we got the flooring years of 2019, 2020 & 2021 to be the year of recovery. These were the years we started seeing the price of bitcoin gradually increase. In 2021, the price of bitcoin got to a new All time of $69K.

Following the 3 years up price and following 1 year down price pattern, 2022 became the year where we saw the price of bitcoin falling just like the rest, we are currently seeing that happening, the year is not yet over but we can see how low the price of bitcoin is compared to the all time high. Now, don’t forget that after this year, we about to enter 2023, will there be a possible up trend just like the rest year trends? Who knows, just watch out.

Posted Using LeoFinance ^Beta