Bitcoin in accumulation phase ?
Since last analysis, Bitcoin volatility has been fairly low it means we're currently in a distribution or in an accumulation phase.
My bias is very much long for Bitcoin (accumulation hence), HOWEVER we shall not trade until we have a clear breakout on the upside. I have put a little green ascending arrow to indicate the levels in which I am buying, this is an indication not an exact level.
It is also possible that Bitcoin could break the symetrical triangle on the upside but without clearing the weekly resistance level. There are a couple resistances levels ahead, this is why I am waiting a clear and strong breakout.
In a big picture analysis, if Bitcoin breaks on the upside it is a HUGE sign that Bull Market have begun and that the Bear market have ended.
My bias is very much long for Bitcoin (accumulation hence), HOWEVER we shall not trade until we have a clear breakout on the upside. I have put a little green ascending arrow to indicate the levels in which I am buying, this is an indication not an exact level.
It is also possible that Bitcoin could break the symetrical triangle on the upside but without clearing the weekly resistance level. There are a couple resistances levels ahead, this is why I am waiting a clear and strong breakout.
In a big picture analysis, if Bitcoin breaks on the upside it is a HUGE sign that Bull Market have begun and that the Bear market have ended.
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