OK using the wavy trend indicator from the Feb lows it took Bitcoin 27 days until this indicator turned. We are on day 22 on this next cycle you can see I drew different colored vertical lines to show you. Right now Bitcoin remains in a neutral zone in the yellow. We haven't seen much selling pressure, but the volume also hasn't been super strong all around. We've seen super strong FOMO buys around April 3rd, 13th, and the 20th, but haven't seen close to the same when it comes to the sell side.
What I am trying to get at, is the middle indicator has moved almost the same length it did on the Feb rally, yet the price of Bitcoin hasn't moved up in the same % gain as it did then.
Looking at the big picture could we see another mini double top like we say in Feb? Who knows but the community as a whole is starting back up and you can feel a vibes from Dec/Jan
Should be interesting to see how this month closes!
What I am trying to get at, is the middle indicator has moved almost the same length it did on the Feb rally, yet the price of Bitcoin hasn't moved up in the same % gain as it did then.
Looking at the big picture could we see another mini double top like we say in Feb? Who knows but the community as a whole is starting back up and you can feel a vibes from Dec/Jan
Should be interesting to see how this month closes!