Analyzing Bitcoin 2021 Double Peak Pattern Through On-Chain Data
Di article dey give deep analysis of how Bitcoin price bin dey move during di double peak pattern for 2021. By studying on-chain data, especially indicators like Realized Profit and Short-Term Holder Realized Price (STH-RP), e identify serious selling by people wey buy am cheap as sign wey show say market dey go reach top. Di analysis dey highlight di impact of dis sell-offs before and during di peaks for April and later for 2021. On top of dat, di article dey explore differences for on-chain indices between di two peaks and dey consider if dat kind pattern fit happen again. Dem dey suggest say make dem dey monitor similar on-chain signals to see market movements wey fit happen, e dey stress how important dis indicators dey for traders wey wan waka through future cycles.
Bearish
Di analysis of Bitcoin 2021 double peak pattern through on-chain data dey suggest say market go dey bearish. Di big big sell-offs wey low-cost holders do, as e show for both peak periods, often dey lead to market top because selling pressure dey increase. Di understanding say similar patterns fit happen again mean say traders suppose dey careful about potential sell-offs wey fit cause market to fall. For history, dis kind indicators don dey signal market corrections, wey fit affect short-term trading negatively. For di long term, to understand dis patterns dey give traders valuable foresight, even though di immediate impact dey tend towards bearish market sentiment because of di history of panic selling and di subsequent peaks wey dem identify.