$BTC How I'm seeing the current market on high timeframes.
During BTC's history it often goes into these re-accumulation phases.
Yes, some of these are bear markets but when zooming and watching BTC's entire history, these can definitely be seen as re-accumulation phases.
During BTC's history it often goes into these re-accumulation phases.
Yes, some of these are bear markets but when zooming and watching BTC's entire history, these can definitely be seen as re-accumulation phases.
Now we see that on the breakout we got this cycle the return has been far from spectaculal. Especially the year 2021 is up "just" +63%.
This is, in my opinion, because initially price moved very quickly which caused a big (May) dump which killed the momentum.
This is, in my opinion, because initially price moved very quickly which caused a big (May) dump which killed the momentum.
That's why this entire 30-65K area can be seen as a huge re-accumulation range.
Or distribution if you're on the bear side but we can't deny that throughout it's history, BTC has been in a huge up trend so I think this is merely re-accumulation before more upside personally.
Or distribution if you're on the bear side but we can't deny that throughout it's history, BTC has been in a huge up trend so I think this is merely re-accumulation before more upside personally.
Of course we have to keep in mind that we have never really seen BTC during bad times in the legacy markets (Except the Covid crash) so it will be interesting to see what that does for BTC's long term view once that eventually hits for a longer time.
Anyways, I do believe that once we breach this range towards the upside, it will be only be a matter of time until valuations like $100K+ are reached.
What happens until then low timeframes will be a lot more unpredictable.
What happens until then low timeframes will be a lot more unpredictable.
As long as 30K gets held I have no doubt this is set for higher valuations not much later in the future.
I'm really speaking very high timeframe here so keep that in mind. Think months and years, not days or weeks.
I'm really speaking very high timeframe here so keep that in mind. Think months and years, not days or weeks.
If you're playing the HTF game, it's all about surviving and not getting rekt. That's what has historically paid off very well in this market.
Thought I'd share my HTF view on the market right now. I hope that gives some insight.
Thought I'd share my HTF view on the market right now. I hope that gives some insight.
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