After a sudden upward impulse in price from $60K to $100K, Bitcoin is distributing below the $100K mark. It will stay rangebound between $80K to $100K for a few months, take this opportunity to build positions, but take your time.
Remember that after a large move, HODLRs who have been holding BTC for a long time become very profitable and a transfer of assets from the old to the new must take place, markets need time to consolidate the results of a large move.
- We saw this from April 2024 to September 2024
- We need to build a strong support level around the 90K area before making the next leg up
- Next leg up around March/April time taking us up for $130K alongside Altseason
- Final leg will be in September/October with a run up to $180K
Let me know what you think about boring Bitcoin in the comments!
Remember that after a large move, HODLRs who have been holding BTC for a long time become very profitable and a transfer of assets from the old to the new must take place, markets need time to consolidate the results of a large move.
- We saw this from April 2024 to September 2024
- We need to build a strong support level around the 90K area before making the next leg up
- Next leg up around March/April time taking us up for $130K alongside Altseason
- Final leg will be in September/October with a run up to $180K
Let me know what you think about boring Bitcoin in the comments!
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