BitcoinLong
Great BTC Entry Price, But Only With Confirmation.
Updated
Hi everyone, seems like we're floundering about in between cycles here. Every single indicator I have points to us being mid-trend including:
2-Year MA Multiplier lookintobitcoin.com/charts/bitcoin-investor-tool/
200 Week Moving Average Heatmap lookintobitcoin.com/charts/200-week-moving-average-heatmap/
Stock-to-Flow Model lookintobitcoin.com/charts/stock-to-flow-model/
The Golden Ratio Multiplier lookintobitcoin.com/charts/golden-ratio-multiplier/
and of course the Pi Cycle Top Indicator lookintobitcoin.com/charts/pi-cycle-top-indicator/
There are others, but these are the most straightforward in my opinion.
The market is risk-on for me unless BTC very clearly closes below (both) the pi cycle MA shown, the 111 DMA, and the multi-year parabolic trendline which is the dashed line. This will of course be decided very shortly by either a continuation of the current correction or a significant reversal candle. If the market does continue upward, this will be a spotless entry directly on a major support. I personally would wait until that reversal candle occurs as a significant downside remains, which would be the equivalent of what happened on September 30th. It should be clear within the week where this is going.
Best of luck.
2-Year MA Multiplier lookintobitcoin.com/charts/bitcoin-investor-tool/
200 Week Moving Average Heatmap lookintobitcoin.com/charts/200-week-moving-average-heatmap/
Stock-to-Flow Model lookintobitcoin.com/charts/stock-to-flow-model/
The Golden Ratio Multiplier lookintobitcoin.com/charts/golden-ratio-multiplier/
and of course the Pi Cycle Top Indicator lookintobitcoin.com/charts/pi-cycle-top-indicator/
There are others, but these are the most straightforward in my opinion.
The market is risk-on for me unless BTC very clearly closes below (both) the pi cycle MA shown, the 111 DMA, and the multi-year parabolic trendline which is the dashed line. This will of course be decided very shortly by either a continuation of the current correction or a significant reversal candle. If the market does continue upward, this will be a spotless entry directly on a major support. I personally would wait until that reversal candle occurs as a significant downside remains, which would be the equivalent of what happened on September 30th. It should be clear within the week where this is going.
Best of luck.
Note
Decent entry @ 54800, next resistance @ 56300
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