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There’s less time left for the bullish formation to complete in
#Bitcoin
Since it's a weekly formation, it might be ready to challenge the highs by early November.
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Ali Fadavi (Iran): “We are capable of destroying everything the Zionists possess in a single operation.” – In my view, this could only be achieved through a nuclear response... #BTC☀
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Let's not fool ourselves; as of today, Bitcoin is not a safe-haven asset like the Yen or Gold. Rather, it's an asset that so far has largely avoided macroeconomic issues but tends to amplify declines when stock markets fall. While some investors seek diversification in cryptocurrencies, the reality is that Bitcoin has not proven to be immune to global risk events, and its high volatility is a clear reminder of that. That said, this doesn't mean that sharp declines in the crypto market don't offer great buying opportunities. In fact, for traders with a long-term vision who understand market cycles, these corrections can represent excellent entry points. Buying in the midst of panic when prices are significantly lower is a strategy that has yielded good returns in the past, but it requires iron discipline. #DCA - Strategy: Analyze the crypto market to identify a good selection of coins to invest in when the macro environment is in our favor.
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Keep an eye on the textbook bullish flag pattern that Bitcoin is forming on the weekly chart. As we can see in the chart, the price is about to break through the top of the channel, which would signal the start of Bitcoin’s bullish cycle. This breakout will likely happen in October. Needless to say, if Bitcoin takes off, the rest of the altcoins will follow suit. #BTC☀
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