People Panic (again) as bitcoin returns to support (again)

[cryptoenthusiast]

Bitcoin has been channeling up for about a year pretty consistently. The basic technical supports are still working. Price hits the weekly Bollinger band bottom, wicks through, builds structure and reverses to a new high. Price has also been bouncing off the top of the weekly gaussian channel. That's very optimistic as well.

So, these ideas main point is the "Trend is your friend until the end." What has really changed? Global liquidity is still going up. The various fiat currencies are being debased. Anti-fiat hedges like silver and gold are making all-time highs.

In a bull market you buy the dip and sell the rip. This is the dip. The rip is over 70% away at $175k. None of this means get reckless. We still have trendlines on lower time frames and lots of potential chop that can occur. There isn't a clear reversal pattern yet. BTC could make a inverted head and shoulders, a double bottom, all sorts of potential nonsense.
And lets be upfront, the channel could break down. Price could go from the top of the Gaussian channel to the bottom, etc. But so far my bias is continuation. Entries are going to be sought out on the daily and 3 day charts. Alts showed a lot of strength recently.

Others.d/bitcoin looks very bullish here at support. I expect it to chop up the next year quite well.

[Rimon Khan]

Retail panic, smart money accumulates — same cycle, different year. ️

[Abdul Khan]

BTC just testing its trendline — patience separates winners from worriers. 🧠