Have we been in an accumulation phase since June 18th? Looking at BTC through the lens of a 3 line break chart you can make some historical comparisons that show this may be the case.
In 2018 there was a triangle pattern breaking to the downside leading to an accumulation phase. That accumulation lasted approximately 6 months before price started moving back up.
If we draw lines of support and resistance on the RSI you can see that once we break above the upper line of resistance price starts moving up as well. This signaled a reversal before price did.
If this plays out similarly then we are just at the start of the accumulation phase and could see price start moving back up around end of year.
No price targets.
In 2018 there was a triangle pattern breaking to the downside leading to an accumulation phase. That accumulation lasted approximately 6 months before price started moving back up.
If we draw lines of support and resistance on the RSI you can see that once we break above the upper line of resistance price starts moving up as well. This signaled a reversal before price did.
If this plays out similarly then we are just at the start of the accumulation phase and could see price start moving back up around end of year.
No price targets.
