Bitcoin Monthly Chart and Long Term Perspective
At this current juncture, Bitcoin is more bullish than it has been in 2018 and 2019.
Some important facts.
1. Monthly Bollinger band keeps narrowing and narrowing, which means that the overall monthly volatility HAS BEEN DECLINING since 2017.
2. Bitcoin HAS YET to close above the UPPER BAND on a monthly basis. We almost did that but we didn't. So no confirmation yet.
3. Monthly RSI needs to go above 70 in order to confirm bull market.
4 Monthly Candle has consistently close above its 20 moving average since 2019.
Overall, Bitcoin is in a MORE BULLISH posture compared to 2018 and even 2019.
Yes, we have the covid drop, but that drop happened on only ONE monthly candle and the long wick entails a strong buying pressure with high volume. So, we can't look at things only on daily chart or short term we need to look at LONG TERM TREND and long TERM CHART like MONTHLY candles usually will ELIMINATE all the short term noises.
Yes, we had the drop from 12000 to 10000 but that happens after we went from 8k to 12k just few months before.
So, if you want to remain sane and want to grow your wealth over time, you need to play the LONG TERM and LONG GAME.
Anything else, good luck with that.
Don't reach out to me, I don't have time. I am not here to sell anything or do marketing. I am just tell some perspective. Its your decision. And I don't have time for trolls and idiots.
Regards.
Some important facts.
1. Monthly Bollinger band keeps narrowing and narrowing, which means that the overall monthly volatility HAS BEEN DECLINING since 2017.
2. Bitcoin HAS YET to close above the UPPER BAND on a monthly basis. We almost did that but we didn't. So no confirmation yet.
3. Monthly RSI needs to go above 70 in order to confirm bull market.
4 Monthly Candle has consistently close above its 20 moving average since 2019.
Overall, Bitcoin is in a MORE BULLISH posture compared to 2018 and even 2019.
Yes, we have the covid drop, but that drop happened on only ONE monthly candle and the long wick entails a strong buying pressure with high volume. So, we can't look at things only on daily chart or short term we need to look at LONG TERM TREND and long TERM CHART like MONTHLY candles usually will ELIMINATE all the short term noises.
Yes, we had the drop from 12000 to 10000 but that happens after we went from 8k to 12k just few months before.
So, if you want to remain sane and want to grow your wealth over time, you need to play the LONG TERM and LONG GAME.
Anything else, good luck with that.
Don't reach out to me, I don't have time. I am not here to sell anything or do marketing. I am just tell some perspective. Its your decision. And I don't have time for trolls and idiots.
Regards.
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