I think people are making this $BTC range way more complicated than it really is.
To me, this looks more like reaccumulation before the next move higher.
We already saw accumulation around the lows, followed by the first expansion. Now the market may simply be taking its time before the next phase.
That can mean pullbacks, failed breakouts and weeks of sideways price action. It doesn’t have to look perfect while it’s happening.
Every move toward the highs will have people thinking the next leg is starting. Then a pullback into support will have the same people wondering if the whole recovery was a trap.
That kind of chop can make you change your mind every few days while the bigger structure hasn’t really changed.
I still see this as a potential rebuilding phase for the recovery, with the eventual breakout potentially coming to the upside.
#SECChairWantsStockMarketsOnChain
To me, this looks more like reaccumulation before the next move higher.
We already saw accumulation around the lows, followed by the first expansion. Now the market may simply be taking its time before the next phase.
That can mean pullbacks, failed breakouts and weeks of sideways price action. It doesn’t have to look perfect while it’s happening.
Every move toward the highs will have people thinking the next leg is starting. Then a pullback into support will have the same people wondering if the whole recovery was a trap.
That kind of chop can make you change your mind every few days while the bigger structure hasn’t really changed.
I still see this as a potential rebuilding phase for the recovery, with the eventual breakout potentially coming to the upside.
#SECChairWantsStockMarketsOnChain
