Everyone panicking about $BTC's drop is missing the bigger picture: since July, Bitcoin has been climbing stairs.
Step one was $62K-$67K, then a 21% leap in 3 days. Step two was $76K-$81.5K, then a 6.6% jump in September. Now we're on step three: $83K-$87K. My take: the sideways chop everyone hates IS the pattern - the flat part of each step before the next climb. Giottus' CEO told CoinDesk the October 7 decline does not invalidate the staircase.
The one level that decides everything is $83,000. Hold it, and sellers have failed to drag Bitcoin back down the stairs. Lose it, and $80K comes back fast. I'm watching that line closely.
Are you watching $83K with me?
#BTC #Bitcoin #MarketStructure
DYOR
Step one was $62K-$67K, then a 21% leap in 3 days. Step two was $76K-$81.5K, then a 6.6% jump in September. Now we're on step three: $83K-$87K. My take: the sideways chop everyone hates IS the pattern - the flat part of each step before the next climb. Giottus' CEO told CoinDesk the October 7 decline does not invalidate the staircase.
The one level that decides everything is $83,000. Hold it, and sellers have failed to drag Bitcoin back down the stairs. Lose it, and $80K comes back fast. I'm watching that line closely.
Are you watching $83K with me?
#BTC #Bitcoin #MarketStructure
DYOR
