IS BEAR MARKET OVER? Are we really marching toward a new BULL MARKET?
My reading of these two BTC charts
I would describe the current state as:
Bear market: 🟠 weakening / potentially completed
Recovery: 🟢 clearly established
New bull market: 🟡 increasingly plausible, but not fully confirmed by weekly MA100 criterion
Major resistance: 🔴 ~$89,800 weekly MA100
Major confirmation zone: ~$90K+ with sustained weekly closes
Important support: ~$78K–80K
Deeper structural support: ~$70K
And importantly, I would not conclude from the $89,800 resistance that BTC must enter another bear market if rejected. A rejection could simply produce a correction/consolidation before another attempt.
In fact, the most interesting thing on the BTC chart is that BTC has already accomplished something that historically matters: it has reclaimed the 50-week MA after spending a prolonged period below it. Galaxy’s historical study found this has generally been associated with the end of major bear phases, although it is not infallible.
I am doing solely DCA on Binance and never had any loss because one who knows the market cycle ( as per cheat sheet ) he always earns money and have sufficient time to take decisions to book profits or exit completely.
$BTC
#BitcoinHits$85K
My reading of these two BTC charts
I would describe the current state as:
Bear market: 🟠 weakening / potentially completed
Recovery: 🟢 clearly established
New bull market: 🟡 increasingly plausible, but not fully confirmed by weekly MA100 criterion
Major resistance: 🔴 ~$89,800 weekly MA100
Major confirmation zone: ~$90K+ with sustained weekly closes
Important support: ~$78K–80K
Deeper structural support: ~$70K
And importantly, I would not conclude from the $89,800 resistance that BTC must enter another bear market if rejected. A rejection could simply produce a correction/consolidation before another attempt.
In fact, the most interesting thing on the BTC chart is that BTC has already accomplished something that historically matters: it has reclaimed the 50-week MA after spending a prolonged period below it. Galaxy’s historical study found this has generally been associated with the end of major bear phases, although it is not infallible.
I am doing solely DCA on Binance and never had any loss because one who knows the market cycle ( as per cheat sheet ) he always earns money and have sufficient time to take decisions to book profits or exit completely.
$BTC
#BitcoinHits$85K
