Last weeks high: $64271.5
Last weeks low: $57579.4
Midpoint: $50887.4
BITCOIN ATH IS IN SIGHT!
A crazy final week of February closing the monthly candle with a record single candle gain in the history of Bitcoin! A +52.8% gain in a single month ($22,134.20) .
This price action has lead us to a situation that has never been seen before in this markets relatively short history... Never has BTC broken its previous ATH before The Halving, yet the we are currently -5% away from ATH with approximately 49 days to The Halving.
With new institutional buyers involved in this cycle it is clear the schedule for what we have become used to has been sped up significantly and we can now expect for the ATH to be broken even before the mining reward gets cut in half! Another metric that can be used to gauge our progress in the cycle is general sentiment and retail interest. So far the news cycle is quiet about crypto and the standard retail investors that general give a top signal are nowhere to be seen currently. This is all very bullish for the space and indicated room to grow.
For this week I will be planning how to preserve my capital and manage my greed accordingly. As it stands the FEAR AND GREED INDEX is 86 which should be taken into account. I do think once BTC breaks past its previous ATH the news will start to cover more stories about BITCOIN which could also bring retail investors to the table, maybe they forgot about their spot positions they bought at the peak of the last cycle and would look to cash out at break even and therefor increase selling pressure? That may not happen but planning for it helps in case it is a sell the news event.
My general thoughts for this Bullrun remain the same a buy and hold strategy will outperform the day trader but -30% flushes are perfectly normal in these conditions so it's always important have some cash in reserve to add to narrative plays.
Last weeks low: $57579.4
Midpoint: $50887.4
BITCOIN ATH IS IN SIGHT!
A crazy final week of February closing the monthly candle with a record single candle gain in the history of Bitcoin! A +52.8% gain in a single month ($22,134.20) .
This price action has lead us to a situation that has never been seen before in this markets relatively short history... Never has BTC broken its previous ATH before The Halving, yet the we are currently -5% away from ATH with approximately 49 days to The Halving.
With new institutional buyers involved in this cycle it is clear the schedule for what we have become used to has been sped up significantly and we can now expect for the ATH to be broken even before the mining reward gets cut in half! Another metric that can be used to gauge our progress in the cycle is general sentiment and retail interest. So far the news cycle is quiet about crypto and the standard retail investors that general give a top signal are nowhere to be seen currently. This is all very bullish for the space and indicated room to grow.
For this week I will be planning how to preserve my capital and manage my greed accordingly. As it stands the FEAR AND GREED INDEX is 86 which should be taken into account. I do think once BTC breaks past its previous ATH the news will start to cover more stories about BITCOIN which could also bring retail investors to the table, maybe they forgot about their spot positions they bought at the peak of the last cycle and would look to cash out at break even and therefor increase selling pressure? That may not happen but planning for it helps in case it is a sell the news event.
My general thoughts for this Bullrun remain the same a buy and hold strategy will outperform the day trader but -30% flushes are perfectly normal in these conditions so it's always important have some cash in reserve to add to narrative plays.