This move up is different...
Bitcoin has moved up before only to give all the gains back in the days that followed.
However, there is a difference with this current move...
Volume.
During the past week we just had the highest volume week in roughly 2 years on bitcoin.
Check it out:
(Source:
As you can see, the last time we had a weekly candle with this much volume it was late 2021.
Not quite 2 years, but you get the point, it's been a while.
The last time there was this much volume the price was roughly $40k and it had been running for 4 months starting around $10k.
When you combine this high volume weekly candle with the downtrend break and there is a very good chance this move up is the start of a much bigger move.
There will be dips along the way, but the path of least resistance is likely to be higher over the coming weeks and months, though new highs are not expected any time soon.
Past patterns and cycles point to the all times highs not reached until roughly 2025, so this move isn't likely to be the big move.
Bitcoin is the best.