Bitcoin - Are the bears ready to hibernate?
The past month has been rough for crypto. Have the bears finally finished their feast?
Based on the well developed support levels from the sideways trading, it seems we've double bottomed and are in the process of completing a head and shoulders pattern signifying significant support for a bull run.
The bull run will be difficult, as we've formed a thick ceiling over the past month but with the amount of cash we've seen exit the market I have good reason to believe we may be seeing some significant cash-flow incoming to help us get through it to see some new all-time highs.
The downward direction has formed a wedge and we're about to find its ending soon. It also coincides with the ending of the futures trading on the 26th meaning the bears can pushing down the market to double dip. I guess we'll find out soon if there really is any correlation. We're also starting to see another positive turn of events on the MACD, another indicator pointing to some positive movement.
I am curious to see how the futures open/close dates start lining up with these positive/negative trends.
Needless to say, i'm happy to see the light at the end of this tunnel and put this month-long massacre behind us.
Based on the well developed support levels from the sideways trading, it seems we've double bottomed and are in the process of completing a head and shoulders pattern signifying significant support for a bull run.
The bull run will be difficult, as we've formed a thick ceiling over the past month but with the amount of cash we've seen exit the market I have good reason to believe we may be seeing some significant cash-flow incoming to help us get through it to see some new all-time highs.
The downward direction has formed a wedge and we're about to find its ending soon. It also coincides with the ending of the futures trading on the 26th meaning the bears can pushing down the market to double dip. I guess we'll find out soon if there really is any correlation. We're also starting to see another positive turn of events on the MACD, another indicator pointing to some positive movement.
I am curious to see how the futures open/close dates start lining up with these positive/negative trends.
Needless to say, i'm happy to see the light at the end of this tunnel and put this month-long massacre behind us.
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