Btc still showing some strength

This graph shows the relative strength of this uptrend is to measure the depth of pullbacks from the most recent local high. The deepest correction in 2023 has been a remarkably shallow -20.1%, standing out as the shallowest of any historical macro uptrend.

The 2016-17 bull market saw regular corrections exceeding -25%, whilst 2019 pulled back from the July-2019 high of $14,000 by over -62%. This suggests a level of underlying demand support in 2023 which aligns with the increasingly tight supply dynamics

3 Likes

Good analysis bro ,the comparison to the 2016-17 and 2019 bull markets, which experienced deeper corrections, emphasizes the potential underlying demand supporting the current trend, potentially linked to tighter supply dynamics.

3 Likes

did you think it’s already over? this was barely the start

2 Likes

Nice anaylsis send it

2 Likes

The party barely started

1 Like

It’s definitely coming back up

2 Likes

To the moon soon

2 Likes