This major trendline dates back just over 11 years ago, and as you can see last time we were under then a crosss above this trendline was back in 2013, after 9 years being above the trendline botcoin dipped in August 2022, its been 11 years since bitcoin crossed over and now ""cha ching" its closed above, The real question is will it stay above for the next 9 years?
Chart below showing the bullish and bearish outcomes,
The bullish outcome is if btc breaks above the 21ma with a daily candle close must close above 21ma
The bearish is very bad, if you all recall a year ago I explained what "Kiss of Death"was, it is when the price breaks below a moving average, creates a low, then price comes back up and kisses the moving...
We have completed Wykoff Distribution and have entered Accumulation Phase, put it this way, "IF" Bitcoin breaks above the ST Price in Phase A ($18,857) then its game over for the bears as we are in a new cycle which we call Accumulation Phase
For more details about Wyckoff Distribution/Accumulation please refer to link below:
Link for Accumulation: Wyckoff...
Using the FIB levels we can all agree BTC tried to hold each major levels of the retracement but failed to do so, If BTC breaks below $15.6K (at time of writing this) our bottom should come at around $10,349
Interestingly I did something bizarre where I removed all the noise, all the lines, all the candles everything and just left the entire history of CME Futures gap and from the chart below I noticed the gaps are getting wider and less and less as time goes by, for example looking at the chart you can see the gaps are frequent and as though it looks like a hive at...
