What we can observe now on the chart is very careful but clear reaccumulation after the bounce from the bottom.
The lid on the kettle is starting to jump as this process is almost complete ale price ready for new highs.
Here are some factors confirming that:
-almost all EMAs are condensed within narrow price range which will serve as a strong support in coming months
-we are approaching the support of rising channel
-dynamic upward spikes are getting hard to control and it looks like it is really easy to go up from where we are now
What is to be expected in coming weeks?
I expect the price to move swiftly over 25k sats after this lengthy consolidation ends and Golden Cross will be the main trigger. As you can see on the chart it can happen very soon as the structure tightens and becomes too obvious to ignore. Short term speculators will push this up hard after the move is triggered. It may be easier to miss the move than you think so for those hoping there is plenty of time to enter the trade you better watch Waves carefully.
This is not financial advice.
The lid on the kettle is starting to jump as this process is almost complete ale price ready for new highs.
Here are some factors confirming that:
-almost all EMAs are condensed within narrow price range which will serve as a strong support in coming months
-we are approaching the support of rising channel
-dynamic upward spikes are getting hard to control and it looks like it is really easy to go up from where we are now
What is to be expected in coming weeks?
I expect the price to move swiftly over 25k sats after this lengthy consolidation ends and Golden Cross will be the main trigger. As you can see on the chart it can happen very soon as the structure tightens and becomes too obvious to ignore. Short term speculators will push this up hard after the move is triggered. It may be easier to miss the move than you think so for those hoping there is plenty of time to enter the trade you better watch Waves carefully.
This is not financial advice.