I was completely wrong in my last analysis, foolishly predicting a sharp decline.
Now, as Bitcoin climbs back to its highs, I'm noticing a decrease in trading volume. Specifically, as the price nears its peak, the volume continues to drop, and there's a surge in volume on red candles.
Based on this, I'm anticipating a bearish market until next March.
During the last round of interest rate cuts (2018-2020), Bitcoin began its rebound right after the rate cuts ended. I believe we'll likely see a similar pattern this time around.
Now, as Bitcoin climbs back to its highs, I'm noticing a decrease in trading volume. Specifically, as the price nears its peak, the volume continues to drop, and there's a surge in volume on red candles.
Based on this, I'm anticipating a bearish market until next March.
During the last round of interest rate cuts (2018-2020), Bitcoin began its rebound right after the rate cuts ended. I believe we'll likely see a similar pattern this time around.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.