- January 9, 2020
- Posted by: Tradingshot Articles
- Category: Cryptocurrency
This will be a short analysis and the indicator I am using couldn’t make the picture much more clear.
The Bollinger Bands Width (BBW), when Bitcoin is in a Bull Cycle, indicates periods of high volatility and accumulation. We see on the chart that at the moment the price is in on an extended consolidation process after the June top, which relative to the 2015/16 phase, came much sooner. That is the reason why the consolidation will most likely be extended more until (at least) the May 2020 Halving. Bitcoin spiked too aggressively from late April to late June 2019 purely based on favorable fundamentals (news) and that is why it was corrected equally to match the 2015/16 model.
What this tells us is that as Bitcoin investors, we should not pay attention to the recent ups and down of the market. The price will most likely consolidate for another 2 quarters, so best to do is pay no attention and simply accumulate more.
Are you accumulating or waiting for a lower price to buy? Let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!