A Trustworthy Rally
Hello Everyone!
After what feels like endless days of decline, Bitcoin has finally started to uptick again to $63,500 after a low of $53,500.
In the last Bitcoin Premium Newsletter, “The Top is Farther Than it Appears”, I talked about a pattern that I had discovered for price that has played out each cycle:
Here is what I said:
“Final phase 1s have been short, which makes me think and hope this time will be the same.
In a strange development, we may rally into August which is abnormal for Bitcoin to complete the first phase 2.”
With our new sprint up, is our shorter phase 1 already completing?
What about healthy supports that have been lost like the 20 Week EMA, could this just be a bearish retest? We talked about healthy supports in the most recent Altcoin Premium Newsletter, “The Mid-Top Reappears”:
Could Level 1 of the RSI bearish retests be all we needed for support?
There are a lot of questions to answer, so let’s dive in!
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