45-Day Countdown: Why Bitcoin Is on Strict Deadline to Confirm Its New Cycle
BTC when published $81,854Now $80,617 ▼ −1.51% since it was published
The countdown has officially started on the Bitcoin market. After a prolonged consolidation, the asset settled around $83,900, forming a foothold for a medium-term move. According to cyclical analysis, the market has a strictly limited window of 30–45 days to confirm the strength of the current bullish trend. After that, the rules of the game will change, and time will start working against buyers. The current optimism is built on the nature of the previous weeks' closes. Well-known market strategist Bob Loukas notes that Bitcoin has successfully held the critically important low of the 60-day cycle. The cryptocurrency found solid ground without sliding into a deep panic-driven drawdown, and confidently broke out upward from the prolonged accumulation zone, consolidating above the moving averages (EMA).
First reported by U.Today. This page is a short excerpt; the full text is theirs.
