BitcoinLong
BTC Decelerated Drops Lead To Reversal (W/EVWMA)
BTC dumps have been becoming less and less volatile as time moves on. I do not believe we will drop to $3,135 again, as buyers have been defending supports on this drawn out, grinding move up. Sellers do not seem to have the will to revisit those prices, thus I believe we are in the early stages of a nascent bull market.
Acceleration will take time, as bears will be in disbelief, but I believe this slow acceleration upwards will gain traction, flipping yearlong bears into bulls once again.
***On the last chart I realized my EVWMA didn't post. This is the elastic volume weighted moving average I use to identify short-term trend reversals. It is the reason the drop from 8.5 -> 3.3k was one line (no true reversal indicated before then).
Acceleration will take time, as bears will be in disbelief, but I believe this slow acceleration upwards will gain traction, flipping yearlong bears into bulls once again.
***On the last chart I realized my EVWMA didn't post. This is the elastic volume weighted moving average I use to identify short-term trend reversals. It is the reason the drop from 8.5 -> 3.3k was one line (no true reversal indicated before then).
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