PistonHonda

$BTC Re-Accumulation. Phase C?

Long
BYBIT:BTCUSD   Bitcoin / U.S. Dollar
I believe we could be seeing a phase c of our re-accumulation structure.

We are seeing a lot of speculation and fear in the market which has been incredibly greedy and overheated.

RSI is approaching the oversold condition for the first time since March 2020 Covid 19 Sell off which was a spring action.

I expect institutional buying to take place around the 43 to 42K level.

I think this could be an incredibly good buying oppurtunity with risk managed accordingly.

Be fearful when others are greedy and be greedy when others are fearful...
Comment: Spring still valid. Looks like the trading range could be sloping upwards slightly opposed to the horizontal one I have on my chart.

Seeing clear change of character now. We need to break above 54 and hold for continuation.

Comments

Ive got the same, great work!
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PistonHonda AlkalineFX
@AlkalineFX, Thanks man! Glad we are aligned. Nice to have confluence with others.
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