Bitcoin had 9 green candles in a row, that's good news looking ahead

in #bitcoin2 months ago

Bitcoin just did something it rarely does...

Bitcoin recorded it's 9th straight green candle.

In fact, the early signs today are showing we might see 10 straight green candles.

For some hopium, here's what the price of bitcoin ultimately peaked at after seeing 9 green candles in a row on the daily chart:

image.png

(Source: https://twitter.com/AussieHodl/status/1421220003743813635/photo/1)

As you can see it doesn't happen often, or recently, but when it has bitcoin went massively higher eventually.

The one caveat here is that the price of bitcoin was much much lower than this every other time.

The law of large numbers going to come into play here and we likely won't see anywhere close to these types of percentage gains...

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I've been talking about law of large numbers for over a year already...

You should have seen my recent posts about Binance DEX shifting decimals of USD exchange rate with 5 points... I basically became millionaire in mere hours, because 0.01 BTC was worth over 41 million USD. Obviously that made trading volume go totally bonkers so it was almost impossible to get large trade orders go through...