 | So as you may already know... Bitcoin dipped a little, which of course isn't the first time in cryptocurrency history. As a crypto veteran (hodling since November 2021) I'm still very bullish right so I figured doing some technical analysis for my fellow r/cryptocurrency members. I came up with the 'Camel Theory'. Bear with me (no pun intended). The 1 day chartAs you can see here, these were critical support points for the last few days. The 1 week chartAt this point you can't really tell what a resistance or support zone is anymore. I drew some lines to pretend to know what I'm doing. The 1 month chartOK so these two horizontal lines clearly are resistance points. Cool huh. Bitcoin seems to go up and down. The 1 year chartSo this is the Camel Theory I was talking about. Please note: this is still just a theory I am working on. I am not sure if it will work out. But according to this theory, Bitcoin will go up again anytime this year. The 1 year chart has two peaks. The two humps on the camel's back resembles these two peaks. It's not rocket science. Feel free to ask me any questions about this theory and I'll do my best to answer them. Bottomline is that this isn't the first time Bitcoin is dipping and we shouldn't panic. Some of you asked for a dip... well... here it is. And if people are in for the long haul... this dip shouldn't worry you at all. [link] [comments] |
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