BitcoinUpdated BTC trend continuation
The idea behind this chart is simple.
Every cycle, BTC tends to have a blow-off top where profits are distributed from early to late buyers.
Every top, thus marks a level, upon the definitive breakdown of which, a so-called capitulation even occurs.
That is the event where every "last one" from the participants tend to sell thinking its over.
That is the period of maximum opportunity for the next generation of buyers.
Technically, there is a period of accumulation which follows the capitulation in price. In our case here, everytime BTC has reclaimed the "capitulation" level/the broken floor, It has had a subsequent retest of that level which has "held" the price and subsequently sent it Higher.
I don't see how this time it will be any different. Of course, past events never guarantee future results but they often repeat.
Myself, I will be a strong buyer once we have this "retest" as I believe we will be in for a nice ride towards 100,000$ BTC and probably even more.
Good luck
Every cycle, BTC tends to have a blow-off top where profits are distributed from early to late buyers.
Every top, thus marks a level, upon the definitive breakdown of which, a so-called capitulation even occurs.
That is the event where every "last one" from the participants tend to sell thinking its over.
That is the period of maximum opportunity for the next generation of buyers.
Technically, there is a period of accumulation which follows the capitulation in price. In our case here, everytime BTC has reclaimed the "capitulation" level/the broken floor, It has had a subsequent retest of that level which has "held" the price and subsequently sent it Higher.
I don't see how this time it will be any different. Of course, past events never guarantee future results but they often repeat.
Myself, I will be a strong buyer once we have this "retest" as I believe we will be in for a nice ride towards 100,000$ BTC and probably even more.
Good luck
Note
In retrospect, the deviation from 35k to 15k will all have been just a bad dream! it always has been.
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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.
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.