Currently Bitcoin is trading at $35k level. Breakout from $31,500 level with above average volume shows genuine buying. Bitcoin is bullish for long-term investment and can reach all-time high in future time. Along with bitcoin other crypto currency shows good upside move. This is the good opportunity to invest in crypto currency as this is new bullish wave is beginning it opens new investment door.
If we talks in technical analysis language. Bitcoin was trading in consolidation zone for more than year and breakout from consolidation zone with above average volume confirms buying pressure. We can say it accumulation zone (Stage 1) based on Wyckoff theory. Now, we are in stage 2 of Wyckoff's theory called Markup stage. In this stage 2 you will see strong upward price action and strong moves with above average volume.
So, according to Wyckoff's accumulation and distribution model we are in stage 2 of trend.
If we talks in technical analysis language. Bitcoin was trading in consolidation zone for more than year and breakout from consolidation zone with above average volume confirms buying pressure. We can say it accumulation zone (Stage 1) based on Wyckoff theory. Now, we are in stage 2 of Wyckoff's theory called Markup stage. In this stage 2 you will see strong upward price action and strong moves with above average volume.
So, according to Wyckoff's accumulation and distribution model we are in stage 2 of trend.