BTC saw escape after escape. It is trading above 200MA and has folded into the primary Bullish channel it took BTC to his 65k All the time High and will likely carry the prize to the next ATH!

It doesn’t mean that we don’t see short term volatility , but personally, I am against any big correction here. The most I anticipate is a rest of the 54-55k level from a “Sell News” point of view since BTC AND F was approved yesterday! This is because short term supply holders are at their lowest right now. Even after that 40% pump, the FOMO still hasn’t kicked in. Inexperienced traders no longer flooded the market. This last pump was purely a supply shock movement. The next move suggests the FOMO and Euphoria faze as we head into the holiday season. On the other hand, if you look at the May Crash, the short term holders were at a high level which led to massive sales of the stupid money. Stupid money isn’t valued yet, which is why I think big moves down from here are less likely. Until the stupid money comes back into the market, these big drops will be rare.

Here’s another take on the importance of the breakout. It also shows how far BTC is of all importance Bearish Long-term signals. Any break below 45k at this point would be VERY Bearish , that’s why I don’t think it happens in the short term. Again, BTC may retest 54k-55k before going higher, but that suggests it won’t go lower than that from now on.


Another prospect of escape;


Even more convincingly, we saw a breakout of this short term bullish channel also. It is important to note that this has yet to be confirmed but it is nonetheless a significant development;


One more view from another angle;

Why I'm bullish on Bitcoin and you probably should be too

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