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Malik Israr Ahmad
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#BTC Market Cycles:
#Bitcoin tends to go through 4-year cycles which are divided into 2 parts, the uptrend and the downtrend. A regular 4-year cycle consists of a 3-year uptrend followed by a 1-year downtrend also known as a bear market.
#BTC was in Accumulation phase from 112 days after hitting bottom around $15491.
This phase was explained as capitulation event indeed 💯.
Now we are approaching towards Relief phase after Successful phase of Hope.
This Relief phase is little longer phase consists of 6 months 💯 approx.
#BTC Weekly TA:
Since 200 WMA is a strong support zone till now.
According to TA $36K to $40K zone is a strong rejection zone for #BTC .
After crossing or closing above $38K will be highly bullish for #BTC.
we will see some time for Accumulation around $36 K zone.
NFA
#Bitcoin tends to go through 4-year cycles which are divided into 2 parts, the uptrend and the downtrend. A regular 4-year cycle consists of a 3-year uptrend followed by a 1-year downtrend also known as a bear market.
#BTC was in Accumulation phase from 112 days after hitting bottom around $15491.
This phase was explained as capitulation event indeed 💯.
Now we are approaching towards Relief phase after Successful phase of Hope.
This Relief phase is little longer phase consists of 6 months 💯 approx.
#BTC Weekly TA:
Since 200 WMA is a strong support zone till now.
According to TA $36K to $40K zone is a strong rejection zone for #BTC .
After crossing or closing above $38K will be highly bullish for #BTC.
we will see some time for Accumulation around $36 K zone.
NFA
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