ALERT: Bitcoin just hit >$70,000!
🧵 With $100,000 in sight, you might wonder if we're truly ready for this next big move. Let’s dive into the cycles to find out 👇
1/ 🔍 Cycle Analysis can help pinpoint ideal entry points for Bitcoin—and eventually, altcoins. Here’s what we’re seeing right now (see the chart above):
2/ 📊 Today’s Reading (Oct 30): All three indicators (1-day, 3-day, 1-week) are above 80, meaning we’re officially in *overbought* territory. This usually signals a potential pullback. Translation? It’s a time to *sell*, not buy 🛑.
3/ 😱 So, why’s everyone so hyped on BTC right now?
It’s simple: after half a year of sideways action, people are ready to see a breakout. BTC has been stuck between 60k and 70k for seven months. Altcoins have taken a beating during this time too, making it tough to profit 🩸.
4/ 😅 After this long wait, everyone’s desperate for upward movement. Many folks bought at the last high back in March and are now shouting “BUY!” in the hopes others will push prices higher.
5/ The Bottom Line 📉
- We’re in overbought territory, which typically signals caution.
- The hype is real, but a retracement could offer better entry points soon.
Let’s see how this plays out! 👀
1/ 🔍 Cycle Analysis can help pinpoint ideal entry points for Bitcoin—and eventually, altcoins. Here’s what we’re seeing right now (see the chart above):
2/ 📊 Today’s Reading (Oct 30): All three indicators (1-day, 3-day, 1-week) are above 80, meaning we’re officially in *overbought* territory. This usually signals a potential pullback. Translation? It’s a time to *sell*, not buy 🛑.
3/ 😱 So, why’s everyone so hyped on BTC right now?
It’s simple: after half a year of sideways action, people are ready to see a breakout. BTC has been stuck between 60k and 70k for seven months. Altcoins have taken a beating during this time too, making it tough to profit 🩸.
4/ 😅 After this long wait, everyone’s desperate for upward movement. Many folks bought at the last high back in March and are now shouting “BUY!” in the hopes others will push prices higher.
5/ The Bottom Line 📉
- We’re in overbought territory, which typically signals caution.
- The hype is real, but a retracement could offer better entry points soon.
Let’s see how this plays out! 👀
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