A few observations:
1. The 41k support and resistance level is again playing a major role in the future direction of BTC.
2. It is the first time we break the 400D MA since March 2020 signalling we are an interesting area.
3. A bounce following the third Wyckoff accumulation in a row might relight some fire and bring back volume.
BTC is fundamentally in my eyes as strong as ever, now we finally face the problems for which BTC has been created and is destined to solve.
However, it needs to show its true colour. The narrative as a hedge against inflation and its position vs gold need to gain traction for the masses to adopt and get to the next level.
1. The 41k support and resistance level is again playing a major role in the future direction of BTC.
2. It is the first time we break the 400D MA since March 2020 signalling we are an interesting area.
3. A bounce following the third Wyckoff accumulation in a row might relight some fire and bring back volume.
BTC is fundamentally in my eyes as strong as ever, now we finally face the problems for which BTC has been created and is destined to solve.
However, it needs to show its true colour. The narrative as a hedge against inflation and its position vs gold need to gain traction for the masses to adopt and get to the next level.