No Double-Top, Just Sideways | Bitcoin
2025-01-27
Category: None

A double-top implies the end of the bull-market. The bull-market, for Bitcoin, has so much more to give.

The chart you have right in front of you shows a sideways trading range, which develops as the market consolidates. The market is consolidating in order to resume growing once the consolidation is over. Bitcoin is moving sideways in order to go up.

A double-top for such a bullish cycle, starting early August 2024, would require at least several months to come in. The dynamics are not right to label current price action as a double-top.

The market is sideways based on a period of rest due to Mars retrograde. The retrograde started in early December 2024. When the retrograde is over, Bitcoin will continue to grow. Think of February 23, 2025 for bullish momentum to be fully active. The Altcoins will start to move first. Full blown bullish action will only be present in March 2025 and forward. The market has so much more to give. This is not the end.

As part of the consolidation phase Bitcoin will move lower to test the lower support. That is between $80,000 and $90,000.

Just as the upper boundary resistance was tested, the same can happen with support. After prices move lower, we can consider opening new positions going LONG. 

Sell at resistance. Buy at support. & keep it simple.

Namaste.