Sunday's big reports, everything you need to know: TA/LCA/Psychological Analysis: In last week's Sunday report, we discussed the expected sideways movement on the larger time frame. As observed, Bitcoin is moving perfectly within the aforementioned sideways zone. Some people fail to grasp the big picture and don’t realize that price swings in the 20% range are normal and even beneficial for large market cap swings as BTC prepares for the next big rise, this one Will get us over 80k and to 100k at high speed. In trading terms, we refer to this bullish sideways movement as an accumulation zone, which is the stage where profit-taking funds, inflows, and undecided funds converge, leading to consolidation on the medium-term time frame. As I mentioned before, this sideways move is bullish and we are primed for a big move higher. What many people don’t understand is that Bitcoin just broke above its all-time high (ATH) over the past few weeks and is now slowly building support around the ATH area. What people don’t realize is that this is a process that takes weeks and I told you we were going to be in Taurus territory for a few weeks and then continue up and go into a super cycle. It is only a matter of time before Bitcoin rises above 70k and enters a super cycle after the 72.5k confirmation; people need to be patient, but most people just lack it. We need strong support near the current ATH area, and BTC does just that. Compare this to previous ATH breakouts and watch BTC perform; you won’t see much movement, but you will see a few weeks of sideways movement and support building, with sometimes 20-30% corrections in the area. Regardless, Bitcoin is looking very bullish and we can confidently say that the next rise is only a matter of time. We have seen selling pressure coming from Grayscale recently; on-chain data shows that new buyers have tended to sell in recent days, while experienced traders and Bitcoin whales have returned to buying during this correction. Retail selling pressure is over and funding rates have cooled down. I like to see Bitcoin retesting previous ATH levels in the 60k area. Looking closely at the chart, you will notice that there is a very strong resistance level at 60k in early 2021.Then, in October 2021, you can see how Bitcoin managed to break through the mother of all resistance levels at 60k and reach an ATH of 69k before entering a bear market. Now, Bitcoin appears to be mature enough to handle the 60k pressure and is easily staying above that level without too much trouble. You can clearly see how the previous 60k resistance level is slowly turning into strong support, setting the stage for the upcoming supercycle, which is loading up, it's just a matter of time. To me, there is no reason to be afraid; these corrections are normal in every bull market. Remember, the halving is coming in 25 days and the mother of all bull markets hasn’t even started yet. Be patient, we have a lot of green coming, I am constantly accumulating new coins that are worth it for long term investing, coins that I have spent hours researching and posting in my long term investing channel, these coins contain In Premium (@DrProfitPremium). Other than that, I still hold all the Bitcoin and ETH I bought in the $16.000 area. As far as the calendar is concerned, final quarterly U.S. GDP numbers are due on Thursday, followed by Powell's speech on Friday.
