🅱️ Bitcoin 4 Weeks Red? Never!

3 Sep 2023

Even before the bear market orthodox end, Bitcoin has never been red for more than 3 weeks.

Bitcoin's bear market ended June 2022, hitting an irregular bottom low in November of the same year.

From November 2021 through June 2022 we saw the bear-market climax; strong bear action.

In this period we witnessed an occasion when Bitcoin went red for more than two months straight but as soon as the orthodox end of the bear-market hit, never again.

From June 2022 through February 2023 Bitcoin closed red for a maximum of 2 consecutive weeks, never more than that.

After the February peak we had the first strong correction and Bitcoin went red 3 consecutive weeks.

This repeats again in May and also in July; 3 consecutive weeks closing red but never more than that.

We are once more witnessing 3 red weeks, if Bitcoin closes red today.

Seeing this pattern of no more than 3 red weeks ever unless we are in the climax of a bear market, we can expect Bitcoin to go green starting next week. There is a chance even to see this same week close green as the open happened at $26,096. Bitcoin would only need to close above this level, ~$26,100, for this week to end green rather than red.

So, what do you think?

- Will Bitcoin break this pattern and continue going red forever more?
- Do you think this is the start of a new bear market?
- Or do you think Bitcoin is undergoing a very common, classic, normal and expected correction before additional growth?

The answer seems quite clear to me.

While prices can continue to decrease, we have very high probability that Bitcoin will soon go green... Really soon, in a matter of days not even weeks.

Namaste.