Hi Traders.
We are taking a mean look at Bitcoin.
Where are our current averages in terms of Bull and Bear trend lines?
Another way of looking at this current move is it would of happened anyways if we hadn't had the FTX Collapse, support and resistance trend lines are continuing from Sep - Oct 2022 (white lines), we haven't had a serious test for support on the current trend / move up.
We'll be closer to confirmation of Bullrun after the FED (FOMC) meeting next week (Red dotted line), as well as any curved balls from the SEC:
"A commissioner with the U.S. Securities and Exchange Commission (SEC) has called for “a coherent and consistent legal framework that works across all asset classes,” including crypto assets. She warned that the SEC’s current enforcement-centric approach would take 400 years to go through all the crypto tokens that are allegedly securities."
- news.bitcoin.com/sec...es-including-crypto/
Once we test for support on the bottom white dotted line, $20 000 - $21 000 area.
Don't FOMO, Good Luck.
Any thought, ideas and additions are welcomed.
We are taking a mean look at Bitcoin.
Where are our current averages in terms of Bull and Bear trend lines?
Another way of looking at this current move is it would of happened anyways if we hadn't had the FTX Collapse, support and resistance trend lines are continuing from Sep - Oct 2022 (white lines), we haven't had a serious test for support on the current trend / move up.
We'll be closer to confirmation of Bullrun after the FED (FOMC) meeting next week (Red dotted line), as well as any curved balls from the SEC:
"A commissioner with the U.S. Securities and Exchange Commission (SEC) has called for “a coherent and consistent legal framework that works across all asset classes,” including crypto assets. She warned that the SEC’s current enforcement-centric approach would take 400 years to go through all the crypto tokens that are allegedly securities."
- news.bitcoin.com/sec...es-including-crypto/
Once we test for support on the bottom white dotted line, $20 000 - $21 000 area.
Don't FOMO, Good Luck.
Any thought, ideas and additions are welcomed.