Analyst William Clemente published interesting chart with quarterly Bitcoin (BTC) candles; it looks like BTC demonstrates a new pattern in 2021-2022
Bitcoin (BTC) supporters on Twitter wonder what a new pattern means and how it might affect Bitcoin (BTC) price dynamics in 2022.
“Sideways for a year”: Bitcoin (BTC) prints Doji candles on quarterly chart
Mr. Clemente, lead insights analyst at Blockware and popular crypto podcaster, has taken to Twitter to share the chart that displays Bitcoin (BTC) performance quarter by quarter on a logarithmic scale.
It looks like Bitcoin (BTC) printed two ultra-thin candlesticks in a row, a situation unheard of in its history. Thus, the period from Q4 2021 to Q1 2022 could be less volatile for Bitcoin (BTC).
Mr. Clemente’s Twitter followers shared various interpretations of this pattern that looks like what is called Doji Candlesticks among traders and analysts.
Some of them are certain that two thin candles signal massive consolidation, while other commentators point to this as a clear marker of Bitcoin maturing into an asset.
Does Bitcoin (BTC) love April?
Bitcoin (BTC) closed Q1 2022, down 1.46% compared to Jan. 1. This is the smallest negative Bitcoin (BTC) quarterly price movement in its history.
In the fourth quarter of 2021, the orange coin added 5.45%, which is the least significant positive second quarter for Bitcoin (BTC): in the third quarter of 2018, the crypto king gained 3.61% in 90 days .
Typically, April is a green month for a first cryptocurrency. It closed April in the red only three times in 10 years with 1.6-3.4% losses.
At the same time, for four consecutive years, April brought gains of 33-35% to the flagship cryptocurrency. If this happens again, Bitcoin (BTC) could easily rally back to levels above $62,000.
