The crypto market is in fierce debate: Bitcoin tops the bull marketThe Bears dripping saliva for cheap coins say yes, while bulls are intent on looking through stock-to-flow predictions, say otherwise. But which one is it?
A secondary conflict surrounds the subject: “If he was a top, it certainly does not look like one.” And while this is indeed true, the cow is not, man. We’re going to explain why the return of Bart Simpson debuted the most recent top, as well as why the move was likely that way.
“If it is at the top in bitcoin, it does not look like the top”
Even if you are not a professional in technical analysis and cannot read the chart if your life depends on it, it is very clear. Top and bottom Most of the time, there is a sharp point – a sign of a rebound is ahead and violence is left behind.
Round bottoms are usually visible, but slow grinding of a process and prolonged stretching.
The size and pattern of recent bitcoin “tops” has confused many traders and analysts. Where is the blow-off phase? Where is the Bearish retest? What kind of pattern is this too? All these questions are used as shelling to argue that It’s not the top.
The pattern peaked with several sharp peaks in resistance resembles the top of a famous cartoon character’s head: Bart Simpson.
| Source: BTCUSD on TradingView.com
I’m Bart Simpson, Who the Hell Are You?
Character Bartholomew Jojo Simpson, Or Bart for Short, first appeared on The Tracy Ullman Show in 1987 as Short. A dedicated show first aired in 1989 and has been running ever since.
The animated character is a TV icon, and the show is a pop culture phenomenon loved by millions. Then why, When Bart appears on the Bitcoin price chart Do crypto traders get so upset?
“Bart moves” as the community calls them, resulting in low liquidity. During such phases, whales can easily pursue price action through the trading range. At the market cap of over a trillion dollars, bitcoin reduces the overall liquidity logic, but when the order book is thin because All are holding, A whale can make waves just as easily as we have seen recently.
This high timeframe of BART is the biggest move on record, and shows that more coins are required to be exchanged to carry forward the price increase. Order books should be stacked to keep them upward. For now, cryptocurrency is Back when the whale is in the playground – either buy or sell reaches its peak.
Featured image from iStockPhoto, Charts from TradingView.com