Dear traders
According to the previous analysis, the link of which is available below, we were able to identify the ascending channel of the next Bitcoin cycle. According to what is shown in the chart, Bitcoin has fluctuated in a stable range for about 9 months. In this period of time, we have gone through unfortunate events such as the Luna falling and the FTX exchange. Moreover, the relentless pressures of the Federal Reserve have also contributed to the cause. Now is the time for the cryptocurrency market to come out of its hibernation and show itself.
As is evident in the previous cycle (form 4 k to 60 k), at the beginning of the ascending channel, we faced the corona pandemic. At this point in time, the volume of bitcoin transactions increased dramatically and, contrary to popular opinion, an uptrend was formed. We are in a similar situation now. The volume of Bitcoin transactions has increased greatly in the last 9 months and the whales have been in the accumulation phase. It seems that the Volume Profile indicator also showed the best price for Bitcoin was around $19,000 to $20,000.
We have an attractive market ahead...
According to the previous analysis, the link of which is available below, we were able to identify the ascending channel of the next Bitcoin cycle. According to what is shown in the chart, Bitcoin has fluctuated in a stable range for about 9 months. In this period of time, we have gone through unfortunate events such as the Luna falling and the FTX exchange. Moreover, the relentless pressures of the Federal Reserve have also contributed to the cause. Now is the time for the cryptocurrency market to come out of its hibernation and show itself.
As is evident in the previous cycle (form 4 k to 60 k), at the beginning of the ascending channel, we faced the corona pandemic. At this point in time, the volume of bitcoin transactions increased dramatically and, contrary to popular opinion, an uptrend was formed. We are in a similar situation now. The volume of Bitcoin transactions has increased greatly in the last 9 months and the whales have been in the accumulation phase. It seems that the Volume Profile indicator also showed the best price for Bitcoin was around $19,000 to $20,000.
We have an attractive market ahead...
Trade closed: target reached
