- February 23, 2019
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
This is the standard BLX chart used to track the candle patterns of Bitcoin from its early stages.
The pattern is parabolic and that has been discussed more than enough here. What I want to emphasize most with this analysis is the support provided by the Green Zone.
As soon as the price enters this Zone, Bitcoin makes a bottom, never breaks it, consolidates on the long term and slowly rises as it prepares the next Bull Market.
What we should be asking ourselves is “How long will the price stay within this zone?”. Because as soon as it breaks it upwards, the Bull Market starts in emphatic fashion.