Bitcoin Monthly Candle Close colour and patterns since 2011
At the beginning of June , I wrote this
""On only 2 occasions have we had a GREEN JAN, RED FEB, RED MARCH, GREEN APRIL
And Both of them were on the way to ATH. (Boxes )
On both those occasions we also had a GREEN MAY, though the gains were minimal and one was followed by a Green June and the other by a Red June."
We just got the GREEN June and so this draws my eye to the sequence on the left, ( arrow )
If we are to follow this, then July should be a larger Green (Arrow) - BULLISH
In-fact, in both the sequences we have been following ( boxes), July was GREEN- BULLISH
And using just the month candle colours, we have a higher chance of another Green candle, with July having had 9 Green to 4 Red previously. - BULLISH
However
Of the previous 8 Green June Closes , only 3 went to a Green July - BEARISH
And I have to say, on NONE of the previous Green Junes were we so close to the current ATH.
July 2021 being the closest with a price at 41K, around 18K below the current ATH at the time.
We are currently only around 200 usd below Current ATH
This adds enormous resistance to the ability to rise
I wanted a RED June because I felt it was more sustainable and would lead to a cycle ATH at the end of the year. As can be seen in the middle Box
If we look back toward the 2012 Box on the left, we may now get a Hot July / August , September and then a Cool off for October, November & December.
But something tells me this will not happen.
The Candles for our current cycle in April, May and June are diminishing in size, the opposite of 2012
But they are similar to the 2020 box, except for the red June close.
This could lead to the desired "Cooling" in August & September and a new lift off in autumn.
And if you look at the chart Candle Colour Count, , August and September are usually RED by some majority
This also gives us the Bigger Green July candle that the "Odds" point towards.
So, as ever, we have to wait and see how this plays out.
Odds in favour of a Green July using previous cycle Data
PA position just below current ATH could lead to a slightly Bearish out look in the short term.
And if you are hoping to see ALTS Rally, PLEASE keep your eye on the BTC.D chart
This also points to wards BTC ATH in Q4 this year
And then, we have the BIG question.......Will we ever see a Classix Bear again ?
With so many Holding Bitcoin LongTerm.....How would a Bear market arrive ?
BUY BITCOIN
HOLD BITCOIN
But, as ever, we just have to wait and see,
