Things are LOOKING UP for Bitcoin
I've been looking for Bitcoin to head closer to the seasonal average around which I'd expect either a bullish or bearish liquidity signal from Flow.
The signal hasn't appeared yet, but we're getting a nice slow bullish consolidation.
Given Bitcoin's short history, it is a challenge to go back through the series to find comparable moments to use as inspiration. However, I believe we might be in a repeat right now of the 2020 Spring/Summer price action.
What is appealing to me is how similar both liquidity profiles are. There's a need to adjust a bit because Flow markers can show up late if the moves are quick (as they were in 2020). Even so, it's pretty much dead on...
- Same crash due to volatility/uncertainty suddenly skyrocketing
- Same fall to the lustrum MA (orange) where the price bottoms
- Same seasonal MA (purple) being used by the price to climb.
- Same marginally improvement of liquidity conditions a few months later
- Same time of year offset by about three months
- Same price pattern
All suggests that between September and November we could see a massive rally. Would it be a meteoric rise like we saw then? Probably not. But Bitcoin revisiting 48K... that's on the table.
The signal hasn't appeared yet, but we're getting a nice slow bullish consolidation.
Given Bitcoin's short history, it is a challenge to go back through the series to find comparable moments to use as inspiration. However, I believe we might be in a repeat right now of the 2020 Spring/Summer price action.
What is appealing to me is how similar both liquidity profiles are. There's a need to adjust a bit because Flow markers can show up late if the moves are quick (as they were in 2020). Even so, it's pretty much dead on...
- Same crash due to volatility/uncertainty suddenly skyrocketing
- Same fall to the lustrum MA (orange) where the price bottoms
- Same seasonal MA (purple) being used by the price to climb.
- Same marginally improvement of liquidity conditions a few months later
- Same time of year offset by about three months
- Same price pattern
All suggests that between September and November we could see a massive rally. Would it be a meteoric rise like we saw then? Probably not. But Bitcoin revisiting 48K... that's on the table.
"Even the wise cannot see all ends." - Gandalf
Connect with me on Twitter. I'm always open to discuss.
Connect with me on Twitter. I'm always open to discuss.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.