ืืืืงืืืืืื ื
๐ฅ Bitcoin In Area Of DANGER: Macro Signal! ๐จ
In this analysis I want to take a look at one of my favorite personal indicators: Bitcoin Logarithmic Price Bands. You can find a detailed explanation of the indicator below.
In short, this indicator tries to predict future areas of extreme opportunity. Buy in the green and sell in the red. However, I also added a yellow band in the middle which surprisingly lined up very well with areas of historical resistance (purple circles) and support.
As of this week, Bitcoin has reached the yellow band for the first time within ~2 years. During two previous bull-cycles this area marked a mid-cycle top and caused a major reversal.
My view is still that we will make a new ATH in before the halving. However, that would mean that the price would still be within the yellow band. The top of the yellow band is currently placed at 77.000, so we still have a lot of room theoretically.
Now that the ETF is here it remains to be seen whether BTC will respect historical price bands. Nevertheless, it's without a question that BTC is entering a major area of resistance around the current all-time high of 69k.
Do you think we're going to see a new all-time high soon? Time for reversal? Share your thoughts ๐
In short, this indicator tries to predict future areas of extreme opportunity. Buy in the green and sell in the red. However, I also added a yellow band in the middle which surprisingly lined up very well with areas of historical resistance (purple circles) and support.
As of this week, Bitcoin has reached the yellow band for the first time within ~2 years. During two previous bull-cycles this area marked a mid-cycle top and caused a major reversal.
My view is still that we will make a new ATH in before the halving. However, that would mean that the price would still be within the yellow band. The top of the yellow band is currently placed at 77.000, so we still have a lot of room theoretically.
Now that the ETF is here it remains to be seen whether BTC will respect historical price bands. Nevertheless, it's without a question that BTC is entering a major area of resistance around the current all-time high of 69k.
Do you think we're going to see a new all-time high soon? Time for reversal? Share your thoughts ๐
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โ Monster Signals: t.me/monster_cryptosignals
๐ฅPremium Signals: fierytrading.com
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