BTC has been range-bound for 16 days‼️ Strong buying steps in—will a major rally follow📈?
Hello, my friends. As of today, Bitcoin is above 83,000 and has been trading sideways for 14 days.
A pattern of a sharp rally after moving sideways, followed by another sideways stretch and then another sharp rally, is generally seen in major bull markets.
As you can see, after July, Bitcoin entered a prolonged period of sideways trading. It lasted a month, after which Bitcoin surged by 20,000 points. Then it traded sideways for another month before surging by a further 137,000 points.
We often say that a prolonged sideways period is usually followed by a sharp rise.
Everyone knows that when there’s no positive news, that itself is negative. Prices need a reason to rise, but they don’t need a reason to fall.
For a market to rise, it needs various positive catalysts. When there’s no positive news, selling pressure emerges and the market enters a downtrend.
So, if we look closely, we’ll notice that after each of Bitcoin’s recent rises, there hasn’t been a significant pullback. Instead, it has consolidated at elevated levels. This shows that a large volume of sell orders has been steadily absorbed by buyers.
For such a huge volume of sell orders to be absorbed so steadily, the institutions and market manipulators behind this rally must have deployed enormous amounts of capital, and they must be highly determined to push prices up. Otherwise, after three consecutive sharp rallies, Bitcoin should have pulled back rather than moved sideways, because so many people would have been sitting on profits.
Those profitable positions are all potential sell orders. But after they were sold, the market still didn’t pull back. That means someone steadily absorbed those sell orders. There’s only one reason to buy them up: to sell at a profit after pushing prices higher.
This confirms the old saying: the longer the consolidation, the higher the subsequent rise. Almost every period of sideways trading is followed by a sharp rally.
So here’s my reminder: you can take long positions, but make sure you get in first. For example, we entered our long position at 83,000, and it’s been in floating profit ever since—we bought right at the bottom. Throughout this period, I didn’t ask you to make any moves; instead, I told you to hold for a long time, so you wouldn’t miss out after a sudden surge. This major rally
Hello, my friends. As of today, Bitcoin is above 83,000 and has been trading sideways for 14 days.
A pattern of a sharp rally after moving sideways, followed by another sideways stretch and then another sharp rally, is generally seen in major bull markets.
As you can see, after July, Bitcoin entered a prolonged period of sideways trading. It lasted a month, after which Bitcoin surged by 20,000 points. Then it traded sideways for another month before surging by a further 137,000 points.
We often say that a prolonged sideways period is usually followed by a sharp rise.
Everyone knows that when there’s no positive news, that itself is negative. Prices need a reason to rise, but they don’t need a reason to fall.
For a market to rise, it needs various positive catalysts. When there’s no positive news, selling pressure emerges and the market enters a downtrend.
So, if we look closely, we’ll notice that after each of Bitcoin’s recent rises, there hasn’t been a significant pullback. Instead, it has consolidated at elevated levels. This shows that a large volume of sell orders has been steadily absorbed by buyers.
For such a huge volume of sell orders to be absorbed so steadily, the institutions and market manipulators behind this rally must have deployed enormous amounts of capital, and they must be highly determined to push prices up. Otherwise, after three consecutive sharp rallies, Bitcoin should have pulled back rather than moved sideways, because so many people would have been sitting on profits.
Those profitable positions are all potential sell orders. But after they were sold, the market still didn’t pull back. That means someone steadily absorbed those sell orders. There’s only one reason to buy them up: to sell at a profit after pushing prices higher.
This confirms the old saying: the longer the consolidation, the higher the subsequent rise. Almost every period of sideways trading is followed by a sharp rally.
So here’s my reminder: you can take long positions, but make sure you get in first. For example, we entered our long position at 83,000, and it’s been in floating profit ever since—we bought right at the bottom. Throughout this period, I didn’t ask you to make any moves; instead, I told you to hold for a long time, so you wouldn’t miss out after a sudden surge. This major rally
