ALTCOIN MCAP BREAKING OUT 🚀 ALTSEASON 2.0 IS COMING BOYZ | Eternel insatisfait on Binance Square

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ALTCOIN MCAP BREAKING OUT 🚀
ALTSEASON 2.0 IS COMING BOYZ

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#BTC Bitcoin is likely experiencing another Re-Accumulation period before trend continuation to new All Time Highs The last time Bitcoin experienced Re-Accumulation was in the Post-Halving Re-Accumulation phase Bitcoin rallied +46% upon breakout from that phase If Bitcoin is to breakout a similar amount from this current ReAccumulation period then price would rally to ~$150,000 What's interesting about that is that the 350x2 Pi Cycle MA (green) is located at around $140,000 Historically, in Parabolic Phases of the cycle, Bitcoin has had a tendency of overextending beyond the green Pi Cycle MA A +46% breakout from this current ReAccumulation Range would enable historical Pi Cycle tendencies to repeat with a new overextension beyond the green Pi Cycle MA $BTC #Crypto #Bitcoin

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#BTC The confluent support area (green circle) has indeed acted as a floor that has enabled consolidation within the $101k-$106k range Bitcoin is once again challenging the Range High for a breakout attempt from the range Daily Close above the $106k resistance followed by a post-breakout retest could enable a historic move to new All Time Highs $BTC #Crypto #Bitcoin

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The father of Technical Analysis in trading is often considered to be Charles Dow, an American financial journalist and co-founder of The Wall Street Journal. He was also one of the creators of the Dow Jones index. Charles Dow formulated some of the earliest theoretical foundations of technical analysis, including principles concerning the interpretation of market trends and the importance of volume in price movements. His theories were later developed and formalized by analysts such as Edward Jones and Robert Rhea, but the fundamental concepts he posited remain at the heart of modern technical analysis. One of Dow's key concepts is Dow Theory, which is based on the idea that prices follow trends and that these trends can be identified and exploited by traders. Translated with DeepL.com (free version)

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#BTC Bitcoin never ceases to amaze with its price action Harsh rejection from the Range High but the most important takeaway is this: Bitcoin has successfully retested the red diagonal and black Range Low of $101k as support This confluent support may serve as a floor for future price action, enabling consolidation within this current $101k-$106k range $BTC #Crypto #Bitcoin

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#BTC Bitcoin is now trying to breakout from its $101k-$106k range Daily Close above the $106k Range High resistance followed by a post-breakout retest would confirm the breakout and bring Bitcoin one step closer to additional Price Discovery $BTC #Crypto #Bitcoin

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