Bitcoin: Ascending channel or wedge?

in #btc3 years ago (edited)


It's not over yet! There are potentials for a false breakout or bears diving in if price breaks down from the mid-channel point, but yes, in general the bull cycle is expected to continue. We've only closed above previous resistance of 61.9k earlier this week, so remain vigilant and cautious.


Now is probably not the time to try become a billionaire on BTC. At best you might see 2x or 3x return on investment but are more likely to see a 50%-70% loss unless you have a good plan and stick to it. The best thing to do for those that are suffering from major fear of missing out right now is to buy a little every month with whatever is disposable cash and stick to it until the next cycle.

The Coinbase IPO has the market all hyped up but we should expect some small lag if this catalyst even will deliver fresh money to the market.

Altcoins are pumping at random and Reddit is awash with people saying things like "I bought this, but do you think it can go to the moon". Do note however that many altcoins will have essentially formed a cup by returning to their all-time-highs. If a handle forms downwards slowly from there, it could be explosive!! Be cautious as we don't know if altcoin season will either arrive at all or be as massive as it was last cycle in 2017/18. It will depend how many fresh entrants to the market arrive and what the bag holders from 2018 do. I noticed Dent went up massively's still useless though

Claim some free BTC in the meantime using a trusted faucet here. You need 30k satoshis to withdraw but I've been using it for years and all those small amounts add up!

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