It feels familiar... I remember now!
Your statement seems similar to what I heard last year when people were bearish on BTC after seeing ETH, could it be that BTC is stabilizing?
分析师舒琴
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What is really going on with Bitcoin? Is the bull truly back, or is there going to be a crash?
As shown in the picture, the current market situation is actually quite common; Bitcoin is forming a complex top, which is a bullish top. Earlier this year, Bitcoin also experienced a surge followed by a pullback, then created a false breakout top, and afterward, a major collapse occurred.
Coincidentally, in March last year, Bitcoin also experienced a bullish top, similarly rebounding after a drop of over 10%, forming another two tops. However, that time, the top did not break through the previous high and then fell all the way down, taking months to reach a bottom.
In April and November 2021, there was also a bullish top where institutions distributed at high levels; this time is likely to be similar. In the short term, such a continuous rise of 10% without any pullback is also quite rare; however, there is a high probability that the CPI data on Wednesday will be bearish, and I think there will be a significant pullback then.
Coincidentally, in March last year, Bitcoin also experienced a bullish top, similarly rebounding after a drop of over 10%, forming another two tops. However, that time, the top did not break through the previous high and then fell all the way down, taking months to reach a bottom.
In April and November 2021, there was also a bullish top where institutions distributed at high levels; this time is likely to be similar. In the short term, such a continuous rise of 10% without any pullback is also quite rare; however, there is a high probability that the CPI data on Wednesday will be bearish, and I think there will be a significant pullback then.
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BTC
98,892.82
-3.31%
ETH
2,183.06
-8.50%
