Bitcoin bear market is over
I think we have made the bottom for bitcoin at 15-16k area and now we are in the accumulation phase of the crypto cycle. It is hard to say how long it will take, but I am more convinced towards the accumulation phase based on my analysis of the weekly chart.
There are 3 major occasions during which we have tanked below weekly 21 moving average and immediately seen a spike in volume and came back above it. Every single time that this has happened, we have made new all time highs!
I have also shared my thoughts on what will happen in short term going into 3rd May 2023 fomc rate decision.
There are 3 major occasions during which we have tanked below weekly 21 moving average and immediately seen a spike in volume and came back above it. Every single time that this has happened, we have made new all time highs!
I have also shared my thoughts on what will happen in short term going into 3rd May 2023 fomc rate decision.
Note
Wow! This aged very well :) Thanks for playing #btc
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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.