MKRBTC In January 2023 hit its lowest level in two years, since January 2021 yet, it still trades within a higher low.
This is a long-term higher low and already a thing of the past as currently this pair is moving weekly above EMA50, a major bullish development.
After years of consolidation in the form of a giant bull-flag, a bullish breakout is happening now.
Notice that even though MKRBTC has grown by more than 60% in the past month, the trading volume is almost non-existent, very low.
This means that there are no sellers around, the bears are gone.
When volume comes in, it will produce a massive explosion of growth.
Just as you see back in September/October 2020, a massive crash, the reverse is set to happen, sudden, fast and strong growth.
It is a simple law of the Universe. Everything goes in cycles.
- Contraction, Expansion. - Death, Life. - Dark, Light. - Down then Up!
The chart looks good.
As Bitcoin is also set to grow, long-term, we will experience exponential value growth on the BTC pairs. This is one of those pairs.
Imagine a pair grows by 500%, we've seen many of those.
1 BTC turns to 5 BTC. 0.10 BTC turns to 0.50 BTC...
And Bitcoin doubles in a year or triples in 1.5 years... Do the maths... The long-term potential is so much higher, even now we have some pairs that have grown 1,850%, 2,000% and more.
This is crazy market but it is the same all across.