On December 6, 2023, with bitcoin near $44,000, Samson Mow sat down to tidy up the vocabulary. "Let's clear up some #Bitcoin terminology," he wrote on X. "A God Candle has long been established to be $10k up on the daily, aka Big Green Candle. A $100k green candle? Not as yet named. I propose: Omega Candle. A $1M green candle? Also not yet named. Ideas?"
Every great book needs a few prophecies, and that post gave Bitcoin one of its loudest. The Omega Candle is a single day in which the price climbs $100,000. It has never happened. Its prophet has promised it again and again, and at the October 22 close of $81,307 it would more than double the price between one sunrise and the next.
This page sets the prophecy beside the ledger, and then does the arithmetic the prophecy leaves out.
A candle, on a price chart, is one period of trading drawn as a single bar, from the opening price to the close, with thin wicks for the extremes. Traders have called any towering green bar a "god candle" for years; no one has documented who said it first.
Continued at bitcoinhashpoint.com →