I read a Crypto related blog and since the wild top, all I heard was news that was centered around “Hope”. Wishing that some miracle is going to happen to send Bitcoin prices soaring again has been the main theme. The last thing I will do is give readers a wave count on any Cryptos as it is a waste of our time.
It was the huge gap that opened up to the downside that caught my eye, and once I check the price at the mania peak it worked out that Bitcoin futures hit $1,931,501 US. We know Bitcoin never saw that price extreme, and it was a dead giveaway that they did some special work how this chart puts out data. Events or insane price top changes is not that uncommon, as many of the leveraged ETFs do exactly that.
The industry is so prone to hacking, and shady operators that it has turned off many people from using Bitcoin. Besides, that Bitcoin prices are declining which investors hate as well.
In the real world gaps have a 90% chance of getting filled, but in the Crypto world nothing is real and this gap will, “Never” get filled! If it did then Bitcoin would have to go above $600,000 and the charts would need to get adjusted again.