/biz/ - Business & Finance

>>55824051
We just entered the first real one ever.

From 2009 to 2022 BTCUSD was in a bullrun. In September 2022 BTCUSD switched into bear market mode. That's when it fell below the long-term support (which the global market had been trading as support since 2015) which then turned into the strongest resistance BTCUSD has ever seen. BTCUSD would currently need a very fast pump of between $7500 to $8500 to get back above the support or in other words break that resistance. During March and April this year, BTCUSD almost managed to get back up above it (back then getting to 32k would've been sufficient), it kept hitting that resistance. Then fell. Which is extremely bearish.

This is reflected in how on the 1 Year candle chart there's now a bearish engulfing candle for the first time ever.

>>55818799
https://archived.moe/biz/thread/37103974/#37103974
https://archived.moe/biz/thread/36992474/#36993685
>>/biz/thread/55177484#p55177912
>>/biz/thread/55121298#p55121489
>>/biz/thread/55559043#p55559045
https://archived.moe/biz/thread/55034585/#55034585

And related is that there's now an engulfing bear candle on the 1-year-candle chart.

>>55793076