“My stop-pivot-turn-fade, which I learned from Michael."
The world thought we would never see another bull run like the bitcoin frenzy of 2020. But the bitcoin market moves in cycles, and we are currently witnessing what can only be described as a Kobe Bryant market. Much like early Kobe tried to mimic Jordan in mannerisms, ideology, and ruthlessness, bitcoin in 2023 is mimicking the euphoria and gains of its 2020 self. Smart investors are drawing comparisons between the two eras. Now that bitcoin once again nears its former glory, it is as if the last cycle never happened. But students of market history know better - what we are seeing is the return of BTC well on its way to reclaiming the throne.
🔄 History Repeats: Is Bitcoin Mimicking 2020? 📈
Bitcoin is repeating the same Technical Pattern that we saw in 2020, which was followed by a significant bullish breakout. The only difference is the timing in relation to the halving event. In 2020, the pattern took place post the Bitcoin halving. While now, the echoes of that pattern are emerging ahead of the halving.
Charting the Future: Bitcoin's Logarithmic Regression Channel Signals Bullish Momentum!
Exciting news on the Bitcoin charts! Bitcoin finds support at the lower of the logarithmic regression bound and breaks above the robust fit line initiating an upward trajectory. This move could signal the probability of the start of a new bull market!
Price Discovery: The Significance of Bitcoin's 36-40K Range
Despite the presence of several macro bullish signals, the short-term outlook for Bitcoin finds itself at a pivotal juncture within the critical zone of 36-40K. Bitcoin's ability to navigate through this zone would determine the confirmation of short-term bullish sentiment.
Bitcoin Market Cap
Disclaimer: The information provided in this newsletter is for educational and informational purposes only. It should not be construed as financial advice or a recommendation to buy, sell, or hold any financial instruments.