BitcoinLong
BTC Long term analysis
Volatility is higher then in previous cycle. That means what BTC did in two steps (runs) before, now did in the big one. Bigger run means a bigger correction. As you can see we are now under lowest orange line. So we need to get back into the zone and than we can see another big run. We need also to get above 21 MA daily and 0,618 Fibonacci retracement to start a new run. This cycle is very different than previous, that is sure! We had never seen closed under 21 MA weekly, correction higher than 45% and RSI weekly under 55 in a bull market. Unless it was a fake bull run. So will we see 3500 again? Finding support there and lets start from the begining... That scenario is likely not going to happen and we will be back on the track soon! :)
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