Analyst William Clemente has posted an interesting chart regarding quarterly Bitcoin (BTC) candles. The analyst thinks that BTC exhibits a new pattern between 2021 and 2022. Here are the details…
William Clemente published the new Bitcoin chart: Here is the new model
Bitcoin (BTC) supporters on Twitter, what this new model published by the analyst means, and Bitcoin ( BTC) predicts how it might affect price dynamics. It is considered whether the Doji candles indicate “sideways movement for a year” on the quarterly chart. Popular crypto podcaster Clemente, an analyst at Blockware, took to Twitter to share a chart that shows Bitcoin (BTC) performance quarter by quarter on a logarithmic scale.
Bitcoin (BTC) appears to have displayed two ultra-thin candles in a row This is said to be an unprecedented situation. Therefore, the period between Q4 of 2021 and Q1 of 2022 is thought to be less volatile/volatile for Bitcoin (BTC).
What does the model mean? What will happen in April?
Clemente’s Twitter followers shared his various comments on this pattern, which is similar to what are called Doji candles among traders and analysts. While some are confident that the two thin candles signal a major consolidation, other commentators point out that it is a clear indication of Bitcoin’s maturation as an asset. As we reported as Kriptokoin.com, BTC closed the first quarter of 2022 with a decrease of 1.46 percent compared to January 1. This is seen as the smallest negative Bitcoin (BTC) quarterly price action in its history.
In Q4 of 2021, the coin increased by 5.45 percent. In Q3 2018, the cryptocurrency gained 3.61 percent in 90 days. Typically, April is a green month for the first cryptocurrency. It closed April with a loss of 1.6-3.4 percent, only three times in 10 years. Considering that April brought a total of 33-35% gains for the four years in a row, if this happens again, analysts predict that BTC could rise above $62,000 again.
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