It's looking more likely that this fakeout is forming a classic double bottom pattern - the retest of the recent local low doesn't have to match that level in a double bottom formation and should actually be slightly above.
www.investopedia.com...s/d/doublebottom.asp
The advance of the first bottom should be a drop of 10% to 20%, then the second bottom should form within 3% to 4% of the previous low, and volume on the ensuing advance should increase.
If we take the local low of $30,299 and then multiply by 1.03 and 1.04 we get a range of 31,207 to 31,510. This recent price action would complete this double bottom and we could be headed much higher in the rebound if this is indeed a double bottom.
All indications are pointing to this being a double bottom with on-chain analysis showing whales gobbling up BTC and the NVT indicator still red - meaning we are super bull still. Also, leveraged longs are taken out... this is setting up nicely here into the weekend for a strong rally on the back of Biden's soft reg touch to crypto and BlackRock licking chops to buy BTC.
www.investopedia.com...s/d/doublebottom.asp
The advance of the first bottom should be a drop of 10% to 20%, then the second bottom should form within 3% to 4% of the previous low, and volume on the ensuing advance should increase.
If we take the local low of $30,299 and then multiply by 1.03 and 1.04 we get a range of 31,207 to 31,510. This recent price action would complete this double bottom and we could be headed much higher in the rebound if this is indeed a double bottom.
All indications are pointing to this being a double bottom with on-chain analysis showing whales gobbling up BTC and the NVT indicator still red - meaning we are super bull still. Also, leveraged longs are taken out... this is setting up nicely here into the weekend for a strong rally on the back of Biden's soft reg touch to crypto and BlackRock licking chops to buy BTC.
Komentar:
And this is why LINK is a super Premium Class A asset:
Komentar:
beincrypto.com/grays...ret-chainlink-trust/
"Grayscale Investments appears to have incorporated a Chainlink Trust."
"Grayscale Investments appears to have incorporated a Chainlink Trust."