In addition to trading it, I use BTC as a proxy for the market in general similar to what I use SPY for in stocks. There are of course, outliers, but this observation occurs for the alt coins as well.
Looking at the weekly chart, I was struck by the symmetry in the highs and lows. I'm not a student of wave theory but certainly use symmetry/cycles in my trading.
Generally we continue in a VERY wide channel +/-36,000 or so and making higher high/lows. They say volatility can be a trader's friend, well here ya go lmao
TA says that barring a new low (<28,800) the trend continues up. This write up illustrates that at least since 2021 we are cycling pretty tightly. Hopefully the chart is pretty self explanatory but take notice of the delta from high to high and low to low as well as the time between higher high and between higher lows. The times the lows consolidate is also of great interest. so we only got one more week b4 it bounces again lmao
IF this continues, (big if and if you make a trade off my analysis, its on you), we can look for another peak at say 77000 or so by this summer. Given all the head winds and trouble this may even get rockier and everything go to zero but short of Vlad tossing some nukes, and/or draconian crypto controls from governments, recent events have only demonstrated the value of crypto. I remain bullish and will continue to buy the lows and sell the highs. except for my hodls of course
cheers
Looking at the weekly chart, I was struck by the symmetry in the highs and lows. I'm not a student of wave theory but certainly use symmetry/cycles in my trading.
Generally we continue in a VERY wide channel +/-36,000 or so and making higher high/lows. They say volatility can be a trader's friend, well here ya go lmao
TA says that barring a new low (<28,800) the trend continues up. This write up illustrates that at least since 2021 we are cycling pretty tightly. Hopefully the chart is pretty self explanatory but take notice of the delta from high to high and low to low as well as the time between higher high and between higher lows. The times the lows consolidate is also of great interest. so we only got one more week b4 it bounces again lmao
IF this continues, (big if and if you make a trade off my analysis, its on you), we can look for another peak at say 77000 or so by this summer. Given all the head winds and trouble this may even get rockier and everything go to zero but short of Vlad tossing some nukes, and/or draconian crypto controls from governments, recent events have only demonstrated the value of crypto. I remain bullish and will continue to buy the lows and sell the highs. except for my hodls of course
cheers
