Why i think the bullish sycle is still intact!
Hello there, this idea is more looking on the mid to long term analysis and why i think bitcoin is not done yet with his sycle
First of all its important to understand what a bullish sycle remains bullish even though we dropped over 50% in stock terms you would consider -20%+ to be the end of a sycle but as we all know 20%+ changes are the usual thing in crypto especialy on alts.
the second key of a bullish sycle is your up trend channel wich is shown as the purple line here
i do like to share this idea simply becuase this can be a great buy oppertunity with a very good risk reward that potentialy can play out here
either way even so if this will not play out i still think considering stoch being very low on daily and weekly even lower and has not been low since the 2018 bear market would be considered a good buy oppertunity anyway.
that being said we can see that the last touch around 10k triggered a period of buyers that led all the way up to 60k, a x6 times basicly, now dont get exited i dont think we will x6 and there are alot of other factors we need to account for like the ma200 daily, and not to mention resistance zones that are crucial to break out of before we really have a good foundation of a bullish sycle continuation
in my last idea about a wyckoff accumulation pattern is still at play as we havent made any lower highs then the spring and test zone, see my idea, keep in mind that subwaves are indicational and doesnt nessesary have to be followed aslong its holding the key requirements of the specific phases
the reason i am saying that is becuase it supports the idea i released now and aling very well with eich other
thanks for reading and if you liked it please dont hesitate to follow me and throw me a like! ;)
First of all its important to understand what a bullish sycle remains bullish even though we dropped over 50% in stock terms you would consider -20%+ to be the end of a sycle but as we all know 20%+ changes are the usual thing in crypto especialy on alts.
the second key of a bullish sycle is your up trend channel wich is shown as the purple line here
i do like to share this idea simply becuase this can be a great buy oppertunity with a very good risk reward that potentialy can play out here
either way even so if this will not play out i still think considering stoch being very low on daily and weekly even lower and has not been low since the 2018 bear market would be considered a good buy oppertunity anyway.
that being said we can see that the last touch around 10k triggered a period of buyers that led all the way up to 60k, a x6 times basicly, now dont get exited i dont think we will x6 and there are alot of other factors we need to account for like the ma200 daily, and not to mention resistance zones that are crucial to break out of before we really have a good foundation of a bullish sycle continuation
in my last idea about a wyckoff accumulation pattern is still at play as we havent made any lower highs then the spring and test zone, see my idea, keep in mind that subwaves are indicational and doesnt nessesary have to be followed aslong its holding the key requirements of the specific phases
the reason i am saying that is becuase it supports the idea i released now and aling very well with eich other
thanks for reading and if you liked it please dont hesitate to follow me and throw me a like! ;)
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