The image illustrates the Bitcoin market cycle, where prices go through different phases of accumulation and ascent, reaching euphoria, followed by a sharp decline and despair. This cycle reflects the psychological shifts of investors and their impact on market prices.
▫️Current Phase:
According to the chart, it seems we are currently in the “Momentum Building” phase, where the market is in an uptrend, with increasing investor participation and achieving higher peaks and higher troughs. This indicates that the market may still be relatively early in the bullish cycle, before reaching the euphoria peak that comes later.
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