$BTC has returned to a familiar position in the cycle.



The monthly candle closed below the 50-day moving average, and the MACD is at its weakest level since the last bear market. In the past, this has been when fear is at its highest, but it also marks a good accumulation zone.

At the same time, the macro environment is improving:
• ISM PMI is at a four-year high
• Oil prices below $68.50, helping to ease inflation
• Job openings are at a two-year high

If the four-year cycle plays out again, the next 2-3 months could become the last good accumulation phase before the next major rally.

The key level to watch is $62.6K (200-week moving average). A break above that level would be a bullish signal. Until then, expect heightened volatility.
BTC2.79%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned