Updated Charts:
First half December sell offs are normal, historical charts and data shows its a norm as many institutions and whales sell off for taxation reasons.
As posted in my earlier charts of bitcoin, we need to move above 53k to 54k to get out of the woods so we are back in the bullish channel as shown in my chart.
The kind of volatility we see now just keeps the gamblers (high leverage) traders on the sidelines as they keep getting stopped out or REKT due to un predictable swings.
Will Clemente further explains On chain analytics very well in his youtube videos and twitter feed which you peeps can follow to learn more on that.
The RSI right now has almost bottomed out which is exactly what we like to see. The bottom right now seems in or max bottom looks like 42k.
Most want to buy bitcoin at 42k or below and thats exactly what we want cause that 42k will end up being a super strong support.
Hodlers / Long Term players will end up winning this setup at the end of the day.
For new hodlers who are entering the market now should use the DCA strategy to get in and never go all in to average out with the best price and get max returns when we start going parabolic.
First half December sell offs are normal, historical charts and data shows its a norm as many institutions and whales sell off for taxation reasons.
As posted in my earlier charts of bitcoin, we need to move above 53k to 54k to get out of the woods so we are back in the bullish channel as shown in my chart.
The kind of volatility we see now just keeps the gamblers (high leverage) traders on the sidelines as they keep getting stopped out or REKT due to un predictable swings.
Will Clemente further explains On chain analytics very well in his youtube videos and twitter feed which you peeps can follow to learn more on that.
The RSI right now has almost bottomed out which is exactly what we like to see. The bottom right now seems in or max bottom looks like 42k.
Most want to buy bitcoin at 42k or below and thats exactly what we want cause that 42k will end up being a super strong support.
Hodlers / Long Term players will end up winning this setup at the end of the day.
For new hodlers who are entering the market now should use the DCA strategy to get in and never go all in to average out with the best price and get max returns when we start going parabolic.
Comment:
Numbers highlighted in RED are good DCA levels