Bitcoin is not trading at $200,000 just yet and I know this can be depressing, but the action we are seeing now is very interesting and reveals a few things:
1) The bottom is in. Last week's drop, touch and go, is the perfect bottom signal. We can take the bottom being in at $78,300. A 28% drop from the $109,000 All-Time High.
2) Classic retrace. After a strong bullish breakout, there is always a retrace. This is good.
Instead of massive force, straight up and higher, we are seeing a classic retrace and this is good because it means that the market (Bitcoin) will take its time to build up strength. Taking time to grow is good and the only way it can work if we are set to move higher based on the long-term.
On average, +$500 daily or +$800 daily can reveal how long it will take to reach higher prices and higher levels in the coming months. An example shared in a previous publication (visit by profile) mentions $120,000 as a possibility next month.
The low is in. What actions to we take now? Buy and hold.
The market is giving you a second opportunity. A second entry. Did you miss the jump from $85,000 toward 95K? If yes, now you have the chance to buy at relatively low prices. The market always gives a second chance. This is great.
Remember the simple strategy, we are in the accumulation phase.
Bitcoin is going up and will continue to grow long-term.
The bottom is in.
Thank you for reading.
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Namaste.