When Fear Dominates the Market, You Should Be Calm Soon, Bitcoin Towards $100,000
Analysis of the Pattern Shown in the Image:
Shape:
The pattern shown in the image indicates a recurring upward trend, consisting of a series of higher highs and higher lows. This pattern is generally known as the "Continuous Uptrend" or "Bullish Trend" pattern.
Interpretation:
Higher Highs: Each new high is higher than the previous one, indicating strong buying momentum and increased demand for the asset.
Higher Lows: Each new low is higher than the previous low, confirming the continuation of the upward trend with minimal selling pressure.
Volume: This pattern is often associated with an increase in trading volume, especially during upward movements, which strengthens the trend.
Specific Numbers in the Image:
Circle 1 (1): Represents the beginning of the uptrend, where the first peak and first trough of the pattern occur.
Circle 2 (2): Represents the continuation of the pattern, where the second peak is higher than the first, and the second trough is higher than the first.
Why Can This Pattern Repeat?
Increased Confidence: Investors currently see that assets are yielding good returns, which has encouraged them to invest more, driving prices higher.
Late Entrants: The late entry of new investors causes an increase in demand, supporting the continuation of the upward trend.
Positive News: Positive news currently regarding Bitcoin or the market in general has led to increased demand, driving prices higher. This includes Trump’s victory in the U.S. elections, the increased investment by major financial institutions in this asset, or billionaires announcing that they are increasing their investments in the leading digital currency
