It's time. BTC has moved from the boom-bust cycle and is going into a long term trend. People are buying and storing bitcoin as a store of quick access wealth. This channel will remain permanent for the long term. It is unlikely that the cycle will be changed. Buy on the low channel, sell at the high, or just buy every week with your paycheck. It is a smarter strategy than holding the collapsing USD.
Note
As you can see from recent activity, we have yet to hit the bottom channel. I do believe my assessment is correct that BTC is no longer a boom bust, but a steady, predictable (more so than before) 100% swing back and forth between these two channels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.