Bitcoin price may enter condolidation period after went up from 38K to 52K. It was very fast pump for Bitcoin price. Bitcoin need time to get power to enter bullish trend. It may be possible to enter consolidation time.
This week was red for Bitcoin price. Here you can see weekly chart of Bitcoin. You can see what happened after green weekly candle during bullish trend of Bitcoin. Bitcoin price entered consolidation time after seeing red candle after many green weekly candles.
This week we met with red candle. So, Bitcoin price may enter consolidation time.
https://i.imgur.com/pWVyzTC.png
Here you ca seen montly chart of Bitcoin. I said and supported my thesis above. Bitcoin price may enter consolidation in next week. If it enters, Monthly Chart of Bitcoin may reverse.
Bitcoin has 6 green candles on monthly chart. We have not seen 7 monthly green candles. Will it be possible to see next month?
If Bitcoin price enters consolidation, we will see red candle in March!
We reached monthly chart thesis after making weekly chart thesis.
https://i.imgur.com/1er7hUV.png
So, Halving is coming soon. Bitcoin price will enter consolidation time. I think we will enter consolidation in next month.
We will see..
Posted Using InLeo Alpha
