Back above $30,000 but still ranging between $29,500 and $31,800. It’s getting a bit boring but we’ll have a significant breakout within the next month or so. My bet would be to the upside.
Nothing else to say really, apart from buy any significant dip.
We’re in the first weeks of a new bull market, nothing exciting until 2024 unfortunately. Time to kick back and enjoy the rest of the summer.
We are surely towards the top of our current range.. and maybe we can think about our current range a bit more broadly.. in terms of the 200-week moving average is
currently at $26,953, so I am not sure if we can even use $27k-ish as the bottom of our current range.. but maybe down to our last correction that was around $25,200-ish.. so then if we might consider our current range as $25,000 to $32k, then we like to see if we might break out to the upside or to the downside.. but I am getting a kind of feeling of don't wake me up merely because we might go down a bit and if we are largely still at the top of the range...
and probably also don't wake me up if we get a mere whimpy break-out that does not get us above $35k-ish.... so maybe we could still consider the don't wake me up range as $25k to $35k.. hahahahahaha.. even though surely getting below the 200-week moving average for any significant amount of time (more than a week or two) would
not be very comforting for quite a few of us longer term bitcoin stackers.. not that many of us are overly worried about ONLY being 25x in profits rather than being 30x in profits since it may well not seem that great of a difference in the whole scheme of things.... and surely many of us would be continuing to stack cornz in them there price zones that are approaching the 200-week moving average and breaching such 200-week moving average to the downside, if they were to play out.
By the way, the 100-week moving average is
currently at $32,714, and I am not sure what significance there might be to get above that number and to stay above that. The 100-week moving average was largely sloping upward from about mid-2020 until is November 2022 peak of around $38,100, so it has been sloping downward since November 2022, and likely we would have to get above it and to stay above it before it would start to slope back upward.. at least that seems logical in a mathematical
(and sciences) sense.
Surely, for about the last month or two, I have been becoming more inclined to consider that the $15,479 bottom from November 2022 is in, and that might not be enough to say that the bear market is over, but if we get above the 100-week moving average and we are able to stay above the 100-week moving average for a long enough time that its curve starts to resume towards trajectoring UPpity, then perhaps that could indicate that we are "actually" in a bull market? Perhaps? Perhaps?