Even Bitcoin price toueched all time high level today 69.xxx USD, Bitcoin price went up fastly from 69K to 59K. Market maker may want to draw double top pattern on Bitcoin price chart before halving.
After 2,5 year Bitcoin price touched all time high. It was short time for Bitcoin price chart. We have never seen all time high before halving. Today Bitcoin did which it has not done before.
Even FED did not start to decrease increase rate, Bitcoin touched all time high. Something seemed as a ballon and Bitcoin went down from 69K USD to 59 USD in a few hours!
You can say that there was not a double top pattern on Bitcoin price chart when Bitcoin passed 19K which the top of 2017, passed in 2020.. As I said market conditions, It may be too early to see all time high. Market marker stopped Bitcoin price on the top!
Here you can see daily chart of Bitcoin and see what happened when Bitcoin touched 19K which is 2017's top.
https://i.imgur.com/X2BfZHR.png
When we look at the indicators on weekly Bitcoin price chart, all of Indicators are at the same level as end of 2020. We may see same scenario but It is early. We have not seen halving yet in this cycle.
Interest rates have not started to go down yet. So, we should see price correction on Bitcoin chart. I think we will enter price correction period for a few months!
https://i.imgur.com/fMpYxBc.png
As I said, It is too early to enter mega bullish season. We saw huge red candles today and It was a bullish trap.
We will see mega bullish trap after interest rates go up..
Waiting..
