BTC still on track for bull run till 2025Hi folks
For the last 6 months BTC has been in a sideways consolidaiton.
I believe that this consolidation was nesessary, and people where frontrunning the halving, and with the ETF people just got excited.
The market will always move to hurt the most people.
Sideways consolidation leaves those that bought BTC at higher levels in an uncomfortable position, sitting at a loss and looking at red all day, to pack their bags and accept their loss.
This is normal in every btc cycle.
Right now the RSI on the 5 day has moved above the moving average, and right now is retesting the MA - this is probably going to be your last chance to enter the final stages of this cycles bull market.
We have been making equal lows on the RSI since 4 July, showing exhaution of the bearish sentiment.
Price is currently consolidating at the previous cycle highs, while the MACD had crossed and printing green candles. This is what the start of a bull run looks like.
Coinciding with the US elections and the USA and most world central banks intending to print money (see my last post), i am fairly confident on a bullish close to the year.
Note: We are still testing the downward sloping resistance since we hit 73k
We have not made a higher high, but on the smaller time frames we are making higher lows and higher highs.
With the RSI wanting to retest its MA, we should expect some volatility - some drops in price before this higher time frame analysis plays out.
It would not suprise me for a flash crash to 60k to happen, only to be bought up and a break out of the price downward sloping trendline to be broken
NFA
