$BTC Summer '24 rhymes with Summer '23 - despite FUD, NEWS
Quick 
BTC price action on the weekly chart. Technically speaking, we're looking to set a local low. Fundamentally, we are suffering from FUD around Mt. GOX coins and other institutional holders, like Germany. It’s only a few days worth of aggregate volume but the specter of a dump is spooking the market and encouraging the bulls to wait.
To me, despite all the news, we look very similar to the March-October period of last year, where it took 3 attempts and establishing 25K as floor price, before finally breaking through the strategic 30k level. This summer, we're likely to see a similar movement play out, establishing 50k as a floor before ultimately breaking above the strategic price of 70k. Perhaps in an inverse head and shoulders fashion.
BTC price action on the weekly chart. Technically speaking, we're looking to set a local low. Fundamentally, we are suffering from FUD around Mt. GOX coins and other institutional holders, like Germany. It’s only a few days worth of aggregate volume but the specter of a dump is spooking the market and encouraging the bulls to wait.To me, despite all the news, we look very similar to the March-October period of last year, where it took 3 attempts and establishing 25K as floor price, before finally breaking through the strategic 30k level. This summer, we're likely to see a similar movement play out, establishing 50k as a floor before ultimately breaking above the strategic price of 70k. Perhaps in an inverse head and shoulders fashion.
-dawson
Feragatname
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