Bitcoin to Japanese Yen hits 1,500,000! Is it in a “no pullback after a push” state?

Here, Bitcoin in yen has surged from around 1.3 million yen as of yesterday morning (June 26) and, after a rapid widening of the price range, jumped up to 1.5 million yen. Still, on the chart it remains with a long upper wick and has fallen to the 1.4 million yen range. Looking back at the overall trend, from mid-June when it stayed around 800,000 yen, in a little over two weeks the price range expanded by about 700,000 yen. As I mentioned yesterday, this sharp ascent recalls the Bitcoin fever period at the end of 2017. Back then, it rose for five consecutive weeks, from 600,000 to 2.3 million yen, before the sixth week’s large bearish candlestick caused a crash. At that time, the saying “there are no buying opportunities waiting for a pullback” applied, and this recent ascent has followed a similar pattern.