THIS CHART SHOWS BITCOIN IS NOT IN A BULL MARKET YET
Updated
Bitcoin bulls finally stepped in which is a good sign.
Bitcoin price has pumped 20% in the last seven days but the question is are we in a bull market?
Well, the fact is bitcoin is not in the bull territory yet. Yes you heard that right.
looking at the weekly candle chart, the white line on the chart is an indicator called bitcoin energy value. You can see from the chart that Every time price is bellow the indicator bitcoin is in a consolidation phase or you can call it a bear market. And in each of the consolidation phase we always have a false breakout above the BEV indicator which you can see from the chart.
Bitcoin is still bellow this indicator which proves to me that bitcoin is not in a bull market yet. I will keep riding the trend with caution.
I will go all in on bitcoin once the price get above the bitcoin energy value indicator.
Bitcoin price has pumped 20% in the last seven days but the question is are we in a bull market?
Well, the fact is bitcoin is not in the bull territory yet. Yes you heard that right.
looking at the weekly candle chart, the white line on the chart is an indicator called bitcoin energy value. You can see from the chart that Every time price is bellow the indicator bitcoin is in a consolidation phase or you can call it a bear market. And in each of the consolidation phase we always have a false breakout above the BEV indicator which you can see from the chart.
Bitcoin is still bellow this indicator which proves to me that bitcoin is not in a bull market yet. I will keep riding the trend with caution.
I will go all in on bitcoin once the price get above the bitcoin energy value indicator.
Note
TO THOSE THAT DOUBT THIS ANALYSIS, I GUESS YOU ARE STILL IN A DIFFERENT BULL RUN😂😂😂
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