Here I did an analysis on the previous time the all time high was breached and what happened. I think it will surprise many on the camp that “a 30% correction MUST occur now”.
BTC actually broke the all time high and continued higher without anything remotely resembling a 30% correction. In fact the largest correction was only ~11% after breaching the all time high and then the dip was bought up immediately and prices continued to march higher.
The special occurrence with today’s bitcoin price is that we’ve just had a halving event and we just printed a hash ribbons buy signal on all timeframes now.
I did a study and found that the average price increase after a blue circle was posted was 30-50% higher within 3-6 weeks on average.
I think a lot of bears are going to be surprised on price action over next 3 weeks.
Thanks everyone – please like the video and leave a comment.