Bitcoin needs accumulation/correction by months
Top note: analysis is between neutral to slightly bearish
When I compare this to previous cycles, We analyzed it correctly when the bear cycle ended.
Since then we had a nice rally for months what I can call beginning rally. Which I believe coming closer to it’s end.
If Bitcoin continious to mimic previous cycle, then it needs 3-5 months for accumulation/correction form now.
Against idea 1: bitcoin can not continue to mimic of months of correction now as ema200 shall not be lost again, and would be strongly defended (not so Strong idea, but to keep in mind)
Against idea 2: negative correlation with spx on htf not yet matured enough, so we might not confident how Btc will behave after spx bear ending first rally; when if spx slight sideways or correction. (Stronger idea to keep in mind, as it’s occuring first time in history)
When I compare this to previous cycles, We analyzed it correctly when the bear cycle ended.
Since then we had a nice rally for months what I can call beginning rally. Which I believe coming closer to it’s end.
If Bitcoin continious to mimic previous cycle, then it needs 3-5 months for accumulation/correction form now.
Against idea 1: bitcoin can not continue to mimic of months of correction now as ema200 shall not be lost again, and would be strongly defended (not so Strong idea, but to keep in mind)
Against idea 2: negative correlation with spx on htf not yet matured enough, so we might not confident how Btc will behave after spx bear ending first rally; when if spx slight sideways or correction. (Stronger idea to keep in mind, as it’s occuring first time in history)
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