Bitcoin (BTC): Do Not FOMO, Wait For Perfect Moment!! The weekly candle broke out of a major resistance zone, thanks to the U.S. election, optimism near ATH, and FOMO over a potential new bullish cycle.
We’re taking a more logical approach here and see a necessary movement back to the broken resistance zone around $68K. For a healthy start to a bullish market, we need a solid correction that confirms this broken zone on the weekly timeframe.
Once we see that, we will be ready for new bullish movement and new ATHs.
Keep in mind, there’s a lot of talk on every platform about the bullish cycle starting and not missing out—classic FOMO and greed. Don’t fall for it. This time might play out differently, especially with ETFs in play and people getting smarter about “following history.”
Remember, the market’s main goal isn’t to make money from thin air but to draw in money from those who don’t know how to manage their accounts properly (we call them gamblers).
Stay safe, and let’s see where we’re headed from here. 😉
Swallow Team
