There is plenty of context to understand what is happens.
If we break UP out of the descending triangle, we need to see a higher high than 8500 to become actually bullish, we could potentially go stagnant in between for months . . .
If we break DOWN out of the descending triangle this is what I am watching;
Bitcoin @ low 4k = 75 mil m.cap
Bitcoin @ 3k = 50 mil m.cap
Potential bounce zones are marked, I MIGHT even say we see a capitulation wick from 3k -> 1800.
1800 being my LPS. Period.
This analysis was post Pomp's podcast and a deep study into the history of Bitcoin.
These are my thoughts, cheers.
If we break UP out of the descending triangle, we need to see a higher high than 8500 to become actually bullish, we could potentially go stagnant in between for months . . .
If we break DOWN out of the descending triangle this is what I am watching;
Bitcoin @ low 4k = 75 mil m.cap
Bitcoin @ 3k = 50 mil m.cap
Potential bounce zones are marked, I MIGHT even say we see a capitulation wick from 3k -> 1800.
1800 being my LPS. Period.
This analysis was post Pomp's podcast and a deep study into the history of Bitcoin.
These are my thoughts, cheers.