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Why An Ongoing Bullish Bitcoin “Retest” Might Result In New Highs
Bitcoin price is still well below its former record, but the top cryptocurrency by market cap at the time of this writing is making another attempt to reclaim lost support near all-time highs set earlier in the year.
“Tes ulang” sejauh ini bertahan di atas level kunci, dan jika dibandingkan dengan puncak masa lalu di pasar crypto, kali ini hampir pasti tampak berbeda. Jika pola berulang menghasilkan hasil yang berbeda masih harus dilihat, tetapi hasil unik kali ini akan menyarankan reli ke tertinggi baru.
Empat Kata Termahal: “Kali Ini Beda”According to Sir John Templeton, the most dangerous mindset in investing is assuming that “this time it’s different.” Markets are cyclical and price action often exhibits fractal-like patterns. Even Bitcoin itself appears to repeat in cycles every four years based on the built-in issuance mechanism called the halving.
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Terlepas dari prediktabilitas ini, bagaimana siklus terungkap dapat muncul dengan sendirinya dengan cara yang unik. Misalnya, pasar beruang 2014-2015 adalah struktur yang dalam dan membulat, yang mengarah ke kenaikan dan puncak yang dramatis pada tahun 2017. Pengujian ulang yang gagal menyebabkan tambahan lebih rendah dan pola segitiga menurun yang akhirnya rusak.
Pengujian ulang dari dukungan sebelumnya yang berubah menjadi resistensi sejauh ini menahan | Sumber: BTCUSD di TradingView.comDalam 2019, Bitcoin rebounded from the most recent bear market bottom, starting a new cycle in cryptocurrencies. After topping out below the asset’s former all-time high the same year, the remaining resistance above led to another failed retest and sustained bearish phase.
Bitcoin has topped once again, but this time the subsequent retest appears to be holding which could lead to new highs ahead.
Lack Of Resistance Could Lead Bitcoin Back To Price DiscoveryThe lack of resistance during this phase of the cycle could result in a different outcome from the past two tops, despite Sir Templeton’s advice. Past retests also failed below the middle-line on the Bollinger Bands, which is a 20-week simple moving average on the below weekly chart.
BTC membuatnya di atas BB menengah pada pengujian ulang ini, bukan pada yang lain | Sumber: BTCUSD di TradingView.comPengujian ulang saat ini telah berhasil berada di atas Bollinger Band tengah, yang dengan sendirinya dapat digunakan secara efektif sebagai sinyal untuk membeli atau membeli.
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Note that during the last bull market, once Bitcoin price was able to hold and stay above the middle-SMA, the uptrend rarely took pause from that point on. It is also when the leading cryptocurrency by market cap blasted off into the final stages of the last bull market.
So, is this time really different? With no resistance above, reclaiming this level with a successful retest couldn’t possibly be more bullish for Bitcoin.
After a failure to move higher, often markets retest a range. If successful, prices might pass through the previous range. If unsuccessful, price finds a range below instead. With less resistance than past tops, the most recent #Bitcoin retest might be bullish. But BTC must hold. pic.twitter.com/0uznyPk5kC
— Tony "Si Banteng" Spilotro (@tonyspilotroBTC) 19 Agustus 2021
Ikuti @TonySpilotroBTC di Twitter atau melalui Telegram TonyTradesBTC. Konten bersifat mendidik dan tidak boleh dianggap sebagai saran investasi.
Gambar unggulan dari iStockPhoto, Grafik dari TradingView.comSumber asli: NewsBTC