✨️🌟✨️ BTC may very well have a red Q1, and many are panicking over it with sayings like "as the year starts, so it goes" — even though last year was similar, and yet $BTC still went on to set a new ATH. Speaking of a red Q1, it's worth mentioning that the 4-year cycle may have exhausted itself with a red candle (log scale for reference) — which is more alarming, because the very foundation of cycle-based theories is now shaky.
We can also observe convergence on the 3-month TF, which is present on the 6-month as well. RSI, while a questionable tool, still helps assess the strength of the current downtrend — and compared to the last bear market, momentum has weakened somewhat. Many believe $50k is too obvious a level — I agree, which is why we could go lower, forming a divergence that could later serve as a «buy signal».
In any case, how Q1 closes red or green doesn’t seem all that important to me. What matters most is the strategy, which ultimately determines which side of the market you're on. Wishing everyone profit we’ll make money.
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