BTC/USD weekly perspective
Let's take a look at the bigger picture for a moment...
BTC is ranging between 42K - 29K the last few weeks.
After the recent ATH it's time to breath and take things slowly for a bit.
A good time for alts to catch up, stabilizing the overall market.
I like history to repeat itself, so before we keep going up parabolic, we need times like these. It prevents us from going into 'euphoria' stage too early. (search for on-chain analysis!)
Personally I would love to see bitcoin touch the yellow dots like before in September/October. (Happened in the bullrun of 2017 three times before hitting ATH). This happens when the green line of the Phoenix Ascending closes below lvl 50 on the weekly. After this we most likely continue upward to new higher highs.
I know a lot of people now are freaking out, fomo in or out the market, making emotional trades, TRYING TO TIME THE MARKET... But honestly I think in a few more months we'll look back at these moments and say that it didn't matter so much if you bought at 31K, 35K, 39K,... because we'll reach much higher prices and you'd be happy to buy at these levels. For us hodlers out here, we can sleep on both ears for a while now.
Trade safe, do your research and manage your risk!
BTC is ranging between 42K - 29K the last few weeks.
After the recent ATH it's time to breath and take things slowly for a bit.
A good time for alts to catch up, stabilizing the overall market.
I like history to repeat itself, so before we keep going up parabolic, we need times like these. It prevents us from going into 'euphoria' stage too early. (search for on-chain analysis!)
Personally I would love to see bitcoin touch the yellow dots like before in September/October. (Happened in the bullrun of 2017 three times before hitting ATH). This happens when the green line of the Phoenix Ascending closes below lvl 50 on the weekly. After this we most likely continue upward to new higher highs.
I know a lot of people now are freaking out, fomo in or out the market, making emotional trades, TRYING TO TIME THE MARKET... But honestly I think in a few more months we'll look back at these moments and say that it didn't matter so much if you bought at 31K, 35K, 39K,... because we'll reach much higher prices and you'd be happy to buy at these levels. For us hodlers out here, we can sleep on both ears for a while now.
Trade safe, do your research and manage your risk!
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