This isn't going to be some terrifically complex or brilliant TA. But i think sometimes looking at it simply shows a better picture.
4H Ichimoku chikou has already crossed price action from top-down. However 1D charts, chikou has yet to cross. So there is some room for Bitoin to maneuver. But my point is that i am not that worried even if it does eventually.
Here's why: If we chart the descend of Bitcoin from its 2017 ATH, we see that although the dip always comes fast and furious, the general movement of Bitcoin has gone curving and forming what it seems to be a sideways movement. If you look hard i drew a curve there, and for all intents and purposes Bitcoin seems to have enter a huge sideways channel. If you view this from a mainstream financial market standpoint, it may look horrible. But because Bitcoin is so expensive, as Bitcoin bounce up and down sideways, mainstream news tend to mistake it for a "crash".
This movement is not new to HODLers. This bouncing back and forth lasted months before it slowly took off starting from around May 2017. Bitcoin cycles is not a strictly yearly thing. And since we reached an ATH in a parabolic curve, it will take sometime for the Bitcoin floor to settle.
If i am right, then this might be a good opportunity to earn as Bitcoin bounces.
4H Ichimoku chikou has already crossed price action from top-down. However 1D charts, chikou has yet to cross. So there is some room for Bitoin to maneuver. But my point is that i am not that worried even if it does eventually.
Here's why: If we chart the descend of Bitcoin from its 2017 ATH, we see that although the dip always comes fast and furious, the general movement of Bitcoin has gone curving and forming what it seems to be a sideways movement. If you look hard i drew a curve there, and for all intents and purposes Bitcoin seems to have enter a huge sideways channel. If you view this from a mainstream financial market standpoint, it may look horrible. But because Bitcoin is so expensive, as Bitcoin bounce up and down sideways, mainstream news tend to mistake it for a "crash".
This movement is not new to HODLers. This bouncing back and forth lasted months before it slowly took off starting from around May 2017. Bitcoin cycles is not a strictly yearly thing. And since we reached an ATH in a parabolic curve, it will take sometime for the Bitcoin floor to settle.
If i am right, then this might be a good opportunity to earn as Bitcoin bounces.
