Bitcoin's First Green Day: Bullish Bitcoin Around The CornerNormally these moves, this type of break of support, don't end in a single day. It tends to expand and be prolonged. Like we had those three red days and after a minor stop we get more 'blood.' That's normally how it works, but, we have some signals.
Trading volume is really weak. A three months long support breaks down and yet there is no real volume. We have the Altcoins signal which we looked at deeply, many bottomed on the 3rd of February which is a long time ago in Cryptocurrency terms.
Bitcoin is becoming older and the older it becomes it also becomes more stable. There is less volatility. Each time there is a bear-market, it is smaller than the previous one. Each time there is a bull-market, it ends up being smaller compared to previous ones.
So normal market behavior would call for the extension of the bearish move, a long correction but the correction is already long. The fact is that Bitcoin is really strong and people are just not ready to part with their Bitcoins, they are happy and ready to hold.
Looking from a detached perspective, being the devils advocate, we can see two sides but we are obviously bullish.
How would an even bigger drop look like?
It would have to be a flash crash because of the date. Say the bearish wave extends, it wouldn't go much further than the 5th of March because we are bullish in March 2025 and beyond. Again, the Altcoins are bullish and many are moving up.
So technically speaking and without getting our own bias on the way, it is too early to say. At the same time, the drop is weak, there is no volume and the Altcoins are already breaking up. This is the final flush.
While Bitcoin has been sideways for months, as expected, many Altcoins went through a massive corrective phase. The truth is that Bitcoin is bigger now, Bitcoin is better now, Bitcoin is more stable now and it is not easy to continue selling.
Some people will sell only to buy back when prices are higher.
Some people will sell and never get their Bitcoins back. What if a whale decides to trick the market and ends up with a bad hand? We already saw many of those.
Right now is not the time to sell.
Right now is the time to either buy or hold.
It doesn't matter what happens, focus on the long-term because we are going up.
We are just days away, no, hours away... Hold strong.
First, the news change but they produce no-effect. This is already happening.
Then, the sentiment changes but the prices is not yet up. This is the next step.
Finally, the entire market starts rising and everybody joins to enjoy the fun.
The bullish dynamics are already in place.
It will only take a small amount of time before it spreads to all corners of the world.
Namaste.
