What Happens From Here Will Be CRUCIAL for Bitcoin (BTC)
BTC observed a Wyckoff's Spring* action, bullish, within the consolidation zone.
And with ARKK** is trending higher, we expect to see more demand from here.
If this bullish observation continues, we potentially see BTC breaks above current consolidation zone, back into Mark Up Phase.
Thus, upcoming trading days are crucial to BTC.
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*Spring denotes weak supply on the market, where price breaks below support but the supply did not sustain the move to mark price lower.
**ARK Innovation ETF (ARKK) holds emerging technology company stocks, in line with Bitcoin's underlying technology.
ARKK when plotted on the chart, trades in line and leads BTC.
ARKK is trending upwards, is positive for BTC.
And with ARKK** is trending higher, we expect to see more demand from here.
If this bullish observation continues, we potentially see BTC breaks above current consolidation zone, back into Mark Up Phase.
Thus, upcoming trading days are crucial to BTC.
================================
*Spring denotes weak supply on the market, where price breaks below support but the supply did not sustain the move to mark price lower.
**ARK Innovation ETF (ARKK) holds emerging technology company stocks, in line with Bitcoin's underlying technology.
ARKK when plotted on the chart, trades in line and leads BTC.
ARKK is trending upwards, is positive for BTC.