A breakout in bitcoin to new all time highs
Updated
Hello crypto, So our price target of 80k at the close of November is starting to look possible. Studying the 8hr chart we see some bullish factors playing out:
1) The trend - We are in an uptrend because we are making higher highs and Higher lows as indicated by the blue arrows.
2) Volatility: A divergence in volatility. Meaning at the very least on a macro scale the supply of bitcoin is able to cater for the demand of the market at this price levels.
3) Supply: Exchanges are reporting every week. That their reserves of bitcoin and ethereum at spot are at all time lows.
1) The trend - We are in an uptrend because we are making higher highs and Higher lows as indicated by the blue arrows.
2) Volatility: A divergence in volatility. Meaning at the very least on a macro scale the supply of bitcoin is able to cater for the demand of the market at this price levels.
3) Supply: Exchanges are reporting every week. That their reserves of bitcoin and ethereum at spot are at all time lows.
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Hi so if you want me to do a analysis of a token you hold, comment below.Trade active
Is there macro support to maintain the uptrend ??Balance on Exchanges just reached a 3-year low of 2,451,143.291 BTC.
Previous 3-year low of 2,451,655.499 BTC was observed on 05 November 2021 as reported by glass node.
Seems we have two elements already in play. Can we find volatility within the next two weeks or sooner.
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The trendline is holding. Bulls are maintaining control.Trade active
We found volatility, earlier than expected but its a welcome addition
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