When was the last time BTC had 5 consecutive red weeks?
I wouldn't put too much emphasis into weekly candles. It's just a rough display of the events that happened market-wise over the course of a (virtual) week.
Virtual? Yes. A week is seven days, right? Weekly candles would look differently sometimes, when a "week" is being defined from thursday to tuesday.
Sure, the standard week is a legitimage frame for calculating averages, totals, differences and statics, as well as hourly, 4h, even 1m for triggerfinger-heavy daytraders.
And yes, traders react to the looks of these values and graphical representations via candles in charts, in relation to the current value, we all know that, thus maybe emphasizing movements in several directions via reactive trades.
Then there's the macro participant, the hodler (institutions included), who in average, retrospectively, tends to keep more coins off the active market than less over long timespans.
Then there are "lost" coins, a value which can never be decremental and is actually unknown, but estimated.
Overall, the value moves up over time, driven by increasing scarcity.
All the candles in between are just more or less impressive ripples on the way up. If five times in a row, or ten times, or less, regardless of the color.
Bitcoin is here, it is being used actively, under ongoing improvement, while finding its value at least until the full supply of coins will finally be mined.
We're so early.
I'm also used to focus my mind, but then i often try to remember to open it up.
Sometimes it's vital to un-focus.
EDIT: 5 consecutive short red weekly candles, as outstanding as they are chosen to be announced and looked at, don't trigger much of a reaction of my inside, opposed to 2 or three big red consecutive candles, which are subjectively about a hundred times more impressive to me.
Poll
