THE ACCUMULATION PHASE
If you take a look at certain Bitcoin charts, we are currently in the accumulation phase. In the upcoming years, there will be a lot of money to be made in the cryptocurrency markets, but the great period of significant price markups won't start until perhaps after the Bitcoin halving. Speaking of the ETH/BTC chart, we are currently tapping on a significant downtrend line. A weekly Candle close above that trend line would signify a significant breakout between the two key cryptocurrencies, which together account for around 60% of the market. As a result, Ethereum might outperform Bitcoin for a while, which is something we might aspire for. In relation to downtrend lines, Bitcoin recently dropped at the line. As is so frequently the case, the rejection has been fairly harsh thus far. Additionally, the daily MACD bull cross for Bitcoin already appears to be on life support. Unfortunately, in order to avoid, the Bulls must enter the game and must step up quickly. Having been a fake out on the MACD, that resulted in a Bear cross and returned us to a position where Bitcoin was less advantageous on a daily basis.
Additionally, the weekly MACD is in a poor position and is about to make a Bearish cross following a significant rally, which is bad news for Bitcoin right now. Even though it needs more time to be confirmed, it's certainly possible that was just a Bears outright fake; the team isn't currently having a great season. It's extremely intriguing to see how the monthly Macd is moving closer and closer to a bullish crossover. This signal has the potential to be quite effective for Bitcoin. Monthly Bullish MACD crossings have historically been a key indicator of the beginning of a new major cycle. Watch the major patterns; in these markets, that's where the money is. We are at the accumulation period of prehab, which is very normal for cryptocurrency, and there is a lot of short-term volatility. Keep your eyes on the larger picture and resist being distracted.