Okay….$BTC
Post
Crypto4light
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BullishThe Bitcoin scenario would be absolutely insane if we get an inverse head-and-shoulders pattern on the weekly chart 😅 Hopefully, we won’t!
As for the price action:
1. The decline before the US drama around the CLARITY Act and the rate hike was already priced in, and we’ve already seen the subsequent move higher.
2. On the weekly chart, I’ve marked the levels from the Fair Price Line.
3. A Wyckoff accumulation is theoretically still possible, but I’m becoming more and more convinced that we may have already put in the bottom this summer without a spring and a liquidity sweep of the lows. I made a video about the potential bottom.
4. Bitcoin dominance is also looking encouraging. It has started moving lower, giving altcoins a little room to breathe! $BTC
As for the price action:
1. The decline before the US drama around the CLARITY Act and the rate hike was already priced in, and we’ve already seen the subsequent move higher.
2. On the weekly chart, I’ve marked the levels from the Fair Price Line.
3. A Wyckoff accumulation is theoretically still possible, but I’m becoming more and more convinced that we may have already put in the bottom this summer without a spring and a liquidity sweep of the lows. I made a video about the potential bottom.
4. Bitcoin dominance is also looking encouraging. It has started moving lower, giving altcoins a little room to breathe! $BTC