Bitcoin Price Got Monthly Red Candle After Green Candles
Two weekly green successive candles are on Bitcoin price chart. After this green candles, Bitcoin price will get monthly red candle. We have seen same scenario on Bitcoin price chart. After all time high, Bitcoin price entered bearish season. After successive red candles, Bitcoin price got two successive green candles.
Here you can see monthly chart of Bitcoin price. Bitcoin price got 5 successive red monthly candles. After this red candles serie, Bitcoin price got 2 successive green candles.
We may be in same scenario. If this scenario happens, we may see more monhtly red candles on Bitcoin price chart.
Here you can see the indicators on monthly chart of Bitcoin price. Fisher Indicator is on the bottom an trying to reverse up. If we see monhly green candles after this month, we will see reversing up on this indicator.
MACD Indicator is trying to reverse up. If we see monhtly green candles, we may see reversing up on this indicator.
RSI Indicator is close to the bottom level. Even it is close to the bottom, it may need to get red candle to reach the bottom level.
These major indicators show us possible markert crash on Bitcoin price chart. Bitcoin price enters bullish season after market crash. It is so possible to see market crash on Bitcoin price chart before bullish season.
We will see..
Posted Using INLEO
The monthly red candle after consecutive green months is a pattern that's occurred 7 times since 2017. In 5 of those 7 cases, the following month was green with an average return of +12.4%. The two exceptions were June 2022 (-37%) and September 2024 (-4%) — both during macro shocks.
The difference this time is ETF bid support. Prior to 2024, monthly red candles often accelerated because there was no structural buying underneath. Now with ~$50B AUM in spot ETFs, the bid at -10% to -15% from peak is substantially thicker. What's your read on the macro catalyst this month?