No words needed when looking at the log day BTCUSD chart on a longer scale. I marked the cross points here to make the pattern clear to see and what follows every time the upper resistance selloffs meets the ongoing bullish sentiment. We can clearly see that by the end of March and through April Bitcoin will see new all time highs, breakouts and the underlying bullish trend that started back in 2016-2017 catching up after the recent corrections. So hodl and have fun :)
hmm. look at the weekly in log scale. Honestly, btc doesn't look very bullish. It looks like it's completing its market cycle. so we either nose dive to 2500-6000 or we gently taper our way down.
panospantou
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@TreeTruffle, i don't the pattern is breaking on the weekly log scale.its just that we're gonna get some setbacks until there is more confidence in the market because of a lot of different factors, but i'm very very bullish long term and i don't see the bullish sentiment broken.
@panospantou, BTC is bullish in general but we in a bearish trend at the moment. We probably won't break 10.1k until we drop a lot further.
ebrp
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@TreeTruffle, it's great to see Bitcoin in this long time frame.
panospantou
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@TreeTruffle, well your argument is valid looking at this chart, maybe the bearish period gets extended if that's the case but due to the exponential nature of digital trends the normal market cycles are compressed as time goes on and the market is expanding. so its really hard for anyone to predict crypto market cycles in a way like the rest of the markets. either way next weeks will be interesting and we'll see what happens. thanks for you input :)
TreeTruffle
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@panospantou, Everything has a season. BTC season is fading, and it will be ALT season again. ...Then btc will take the lead again.