Bitcoin bear market is over

2 May 2023

I think we have made the bottom for bitcoin at 15-16k area and now we are in the accumulation phase of the crypto cycle. It is hard to say how long it will take, but I am more convinced towards the accumulation phase based on my analysis of the weekly chart.

There are 3 major occasions during which we have tanked below weekly 21 moving average and immediately seen a spike in volume and came back above it. Every single time that this has happened, we have made new all time highs!

I have also shared my thoughts on what will happen in short term going into 3rd May 2023 fomc rate decision.

6 Ara 2023

Not

Wow! This aged very well :) Thanks for playing #btc