Bitcoin has been consolidating recently after its impulse move to $42K. My analysis suggests a move soon, but to know which way we’ll need to watch price action closely.
One possibility is a brief test of $30K, before another uptrend. This aligns well with BTC’s bull market phase, as well as other fundamentals like money printing in the US.
But it doesn’t HAVE to retest - another impulse up would be completely believable.
What’s not believable are comments from people who claim BTC has to implode - Gold Perma-Bulls who don’t understand Crypto Cycles. Sorry, but I don’t believe we’ll ever see $10K Bitcoin prices again.
If you’re interested in HOW to learn what to look for, follow @WyckoffMode and learn how to use his Phoenix indicator combined with Bollinger Bands for clarity of price moves.
One possibility is a brief test of $30K, before another uptrend. This aligns well with BTC’s bull market phase, as well as other fundamentals like money printing in the US.
But it doesn’t HAVE to retest - another impulse up would be completely believable.
What’s not believable are comments from people who claim BTC has to implode - Gold Perma-Bulls who don’t understand Crypto Cycles. Sorry, but I don’t believe we’ll ever see $10K Bitcoin prices again.
If you’re interested in HOW to learn what to look for, follow @WyckoffMode and learn how to use his Phoenix indicator combined with Bollinger Bands for clarity of price moves.
#CTM
#TradersReality
"In a realm of uncertainty opinions are irrelevant."
- @Tradersreality
#TradersReality
"In a realm of uncertainty opinions are irrelevant."
- @Tradersreality
