The chart isn't necessarily saying up or down anymore... Because of the prolonged sideways phase, it has become mixed, it is mixed in the sense that anything goes... What to make of this information?
Should we go through the signals together? The classic signals, the advanced signals, the market bias, sentiment and trend vs the next potential move?
I will need your feedback in the comments and I will answer through several updates...
What is Bitcoin likely to do next?
Looking at the action from November 2022 through January 2024 we can easily spot a few patterns... How we interpret this information is the tricky part.
The signals are there, the clues are all waiting to be discovered; 20K or 80K?
➖ From November 2022 through April 2023 we have a very nice, amazing, awesome bullish wave in the tune of 100%. I love Bitcoin, it was great fun back in those days. (A)
➖ A consolidation phase followed. (B)
➖ From September 2023 through January 2024 we have another amazing bullish wave... I can still feel the excitement, the growth, the profits... Unfortunately it all died down but not for too long, this is our year, this eight as in 2024. This wave peaked at 96.56%, very similar to the previous wave. (C)
➖ A consolidation phase follows? A correction follows? 👉 Lower before higher...
Leave your questions in the comments section below. We will dive deep on this one, fully open, we will consider both sides.
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