Bitcoin

New Bitcoin Analysis In Bubble Cycle

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My last prediction on the stage we were inside a bubble cycle was proved wrong once Bitcoin had it's current rally. Although it's very likely Bitcoin drops back to $6800ish maybe since it's obvious the rising wedge is getting weaker with decreasing volume; the big picture is that as long as Bitcoin prints a solid "higher low" than $5900 (maybe in the $6100-$6300ish range) then more and more things are lining up that we are at the U bottom stage.

1. High amount of shorts.
2. Weekly MACD crossed.
3. One small rally followed by a "I told you so" stage when it falls back down followed by dis-belief when it slowly keeps going up and up and up.

Factors that make me weary we should still hit $5100:
1. Volume. Ideally; I wanted to see a high spiked volume bar of any color in the last capitulation causing the last V bottom.. then recovery and then starting the first stages of the U bottom.
2. Accumulation from big smart money. There's price action in various ranges where you can see some big guys loaded up. But was it enough?

If indeed we are in the U bottom stage; one should not trade.. swing trading is risky. It's time to play the long-term 6-month minimum hold game. Just like the big smart money; you buy (accumulate) and hold until the distribution time at the top. Trading inside this zone in my opinion would be too stressful lol.

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