Hello old friends - BTC is in a new predicament

2022年5月2日

Bitcoin follows a well-established cycle of trading, right now we are towards the bottom, it is important to understand that this is not the bottom. The process of making a bottom takes time. It will then be followed by a period of sideways ranges and volume discrepancies.

Happening right now: BTC is on a downward trajectory and stuck under a lot of resistance. We have to conquer the thick red line before contemplating moving forward. We are not going up until we go over the thin red line. It has rejected price 5 times before in that spot. What does that mean? It means that customers (traders, buyers...) consider Bitcoin too expensive at 40k and 30k, which means we have to go lower in order for mass buyers to consider BTC cheap. Once BTC is at a low enough point, traders will start buying and price will go up.
How to use the mother of all buy zones? It does not mean BTC has to go there before moving up, it means that if BTC goes there it is time to load up on it or on valuable Alts.



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