Great BTC Entry Price, But Only With Confirmation.
Hi everyone, seems like we're floundering about in between cycles here. Every single indicator I have points to us being mid-trend including:
2-Year MA Multiplier www.lookintobitcoin....tcoin-investor-tool/
200 Week Moving Average Heatmap www.lookintobitcoin....ing-average-heatmap/
Stock-to-Flow Model www.lookintobitcoin....stock-to-flow-model/
The Golden Ratio Multiplier www.lookintobitcoin....en-ratio-multiplier/
and of course the Pi Cycle Top Indicator www.lookintobitcoin....cycle-top-indicator/
There are others, but these are the most straightforward in my opinion.
The market is risk-on for me unless BTC very clearly closes below (both) the pi cycle MA shown, the 111 DMA, and the multi-year parabolic trendline which is the dashed line. This will of course be decided very shortly by either a continuation of the current correction or a significant reversal candle. If the market does continue upward, this will be a spotless entry directly on a major support. I personally would wait until that reversal candle occurs as a significant downside remains, which would be the equivalent of what happened on September 30th. It should be clear within the week where this is going.
Best of luck.
2-Year MA Multiplier www.lookintobitcoin....tcoin-investor-tool/
200 Week Moving Average Heatmap www.lookintobitcoin....ing-average-heatmap/
Stock-to-Flow Model www.lookintobitcoin....stock-to-flow-model/
The Golden Ratio Multiplier www.lookintobitcoin....en-ratio-multiplier/
and of course the Pi Cycle Top Indicator www.lookintobitcoin....cycle-top-indicator/
There are others, but these are the most straightforward in my opinion.
The market is risk-on for me unless BTC very clearly closes below (both) the pi cycle MA shown, the 111 DMA, and the multi-year parabolic trendline which is the dashed line. This will of course be decided very shortly by either a continuation of the current correction or a significant reversal candle. If the market does continue upward, this will be a spotless entry directly on a major support. I personally would wait until that reversal candle occurs as a significant downside remains, which would be the equivalent of what happened on September 30th. It should be clear within the week where this is going.
Best of luck.
Comment:
Decent entry @ 54800, next resistance @ 56300