The leading cryptocurrency Bitcoin (BTC) has confused investors with its volatile movements in recent days, creating a situation not seen since 2017 today.
BTC, which rose above $100,000 a few days ago but could not hold on there, started to decline again and dropped to $91,000 levels.
Bitcoin, which experienced a historic moment after this decline, has burned green candles 14 times in a row on an hourly basis since 2017.
These hourly candles appeared as the BTC price rose from $91,771 to $95,283.
Vetle Lunde, a senior analyst at K33 Research, explained the last time this happened in a post on his X account. Lunde said that Bitcoin burned the most candles on an hourly basis today since January 1, 2017.
Lunde said that although Bitcoin has been creating an hourly green candle series since January 2027, this series has had a maximum of 11 green candles.
At this point, although Bitcoin has burned more than 10 green candles on an hourly basis many times in a row in the past years, the number of candles has never reached 14.
Although it is stated that these green candles in Bitcoin show that buyers are more dominant than sellers, the green candles on the Bitcoin chart were replaced by red candles with the US labor market data announced a few hours ago.
Bitcoin continues to trade at $93,770 at the time of writing.
https://twitter.com/VetleLunde/status/1877660468552098147
*This is not investment advice.
