Been keeping my eye on this for a minute, BTCUSD Historical Movement Coincidence, seems to be setting up the same way as in 2019 where we had 8 months or so before the halvening, the movements have been similar. If we come off the new local lows call this "Volatility Contraction Pattern". 5 charactistics that make this up:
-A premarket gap or explosive move off the open
-Elevated Relative Volume compared to prior days’ average
-The potential for a breakout on higher time frames
-Underlying significant support (like a daily pivot or moving average)
-Inability to breakdown
I think there will be another break down due to how liquid the market and the current market sentiment (one could say simply FUD), as we need an explosive move off the next break down. When this happens BTC will be in a great position to carry into a bullish market. The movements will be exhausted unlike 2019 as we are coming into the top of the S-Curve for BTC. This is typically where I will be accumulating as many promising high multipler coins. This high multiplier investments usually make up around 10% of my portfolio but can provide a lot of wealth generation and in a bull market even though btc could only due a 2x, BTC is in a position to act as a hedge against risker high multipler assets in the crypto space. So in summary we are forming a Volatility Contraction Pattern where we will have volume compression until the new local bottom with a explosion to the upside hopefully in Q1 of 2024. Good place to accumulate for the upcoming market.
"Where did all my money go"
-Kewlkat
-A premarket gap or explosive move off the open
-Elevated Relative Volume compared to prior days’ average
-The potential for a breakout on higher time frames
-Underlying significant support (like a daily pivot or moving average)
-Inability to breakdown
I think there will be another break down due to how liquid the market and the current market sentiment (one could say simply FUD), as we need an explosive move off the next break down. When this happens BTC will be in a great position to carry into a bullish market. The movements will be exhausted unlike 2019 as we are coming into the top of the S-Curve for BTC. This is typically where I will be accumulating as many promising high multipler coins. This high multiplier investments usually make up around 10% of my portfolio but can provide a lot of wealth generation and in a bull market even though btc could only due a 2x, BTC is in a position to act as a hedge against risker high multipler assets in the crypto space. So in summary we are forming a Volatility Contraction Pattern where we will have volume compression until the new local bottom with a explosion to the upside hopefully in Q1 of 2024. Good place to accumulate for the upcoming market.
"Where did all my money go"
-Kewlkat