Bitcoin during accumulation periods

27 ene 2021

When we look at the bitcoin chart history during the pennant or symmetrical pattern formations it takes 20 to 80 day ranges before it comes out of the bearish scenario. Pulling dimensions from the previous low to the current most high we have seen the bitcoin behavior descend near or to the .38 in most occasions in which case is a great time to accumulate or to take a long position it is when everyone is in panic and fear that is at its best time to purchase for the long run... to exit this bear scenario btc has to break above the .786 or at least the descending triangle or pennant pattern with volume confirmation in which it will be another opportunity to take a long position breaking the upper resistance. Everytime resistance (S/R) (R/S) is broken it becomes a good strattegy to take on a long position although nothing is 100% its a great probability of winning changes. Now the take profit is always at the previous high ATH is where people will be taking profits once again. Once Bitcoin is able to break ATH its a new race in price discovery of 45, 48, and even 50k in the near future.