Bitcoin Is At The Top Of Ten Year Buy Zone - Time For FOMO?
Bitcoin is at the top of the nearly ten year buy zone, where accumulation takes place. When it leaves the channel, the asset goes parabolic until its next peak. Then it makes its way back into the channel for reaccumulation.
BTC is as bullish as it gets, but big players might not just yet be willing to run too hot and make their entry costs too high. Price will be forced down, liquidating the early longers, and making it fearful for new long positions outside of smart money to enter. Then the bull run is here. Around Feb 2021.
BTC is as bullish as it gets, but big players might not just yet be willing to run too hot and make their entry costs too high. Price will be forced down, liquidating the early longers, and making it fearful for new long positions outside of smart money to enter. Then the bull run is here. Around Feb 2021.
CoinChartist is run by Tony "The Bull", a level 3 CMT student & technical analyst fascinated w/ Elliott Wave Principle, Hurst Cycle Theory, W.D. Gann, Japanese Candlesticks, & other classical charting methods. Visit coinchartist.io for free TA education!