All,
This chart shows the larger picture with BTC straddling the 20 monthly MA like we're glued to it. We've seen multiple failed rallies. Interest is at an all time low and their is lack of people entering the market. It appears that historically we should be going lower and below the 20MA monthly on the charts towards market capitulation and then consolidation and recovery. It seems that an ideal buy here would be a PT of 3000-3600 however anything below 4k is likely a good buy for the long term. Hard to picture a new healthy longer term bull market without prices going lower to where risk vs reward and returns get better. We've also see RSI and Stoch going lower last bear market. There may likely be another manipulated rally but 6k I just don't see holding forever.
This chart shows the larger picture with BTC straddling the 20 monthly MA like we're glued to it. We've seen multiple failed rallies. Interest is at an all time low and their is lack of people entering the market. It appears that historically we should be going lower and below the 20MA monthly on the charts towards market capitulation and then consolidation and recovery. It seems that an ideal buy here would be a PT of 3000-3600 however anything below 4k is likely a good buy for the long term. Hard to picture a new healthy longer term bull market without prices going lower to where risk vs reward and returns get better. We've also see RSI and Stoch going lower last bear market. There may likely be another manipulated rally but 6k I just don't see holding forever.