#Bitcoin #Altcoins #altcoinseason
This is how a relief rally can easily last three months. A rise from $80,000 to $90,000 takes 30 days, with all the usual price fluctuations. Then again from $90,000 to $100,000 another 30 days. The peak can go beyond $100,000 but we get a retrace. The valley can go below $90,000 but we get a recovery. From $100,000 to $110,000 another 30 days and so on.
As we engage the market on a daily basis, we see almost no change, yet prices continue to rise gradually. It's been 30 days since Bitcoin hit bottom at 80K. Bitcoin's current price is now 90K. This same pattern can repeat.
There can be a strong advance for 10 days or two weeks followed by a retrace, and the cycle repeats. In this manner, a recovery rally can even last 5 months. This is all coupled with higher highs and higher lows which makes it a bullish move by definition. To profit from this type of scenario, we buy and hold. The same is true for the altcoins.
An altcoin can start to fluctuate wildly at bottom prices, it can produce some growth but after each advance there is a sudden retrace. Up-close it seems nothing is happening, when looking at price dynamics long-term, we can see the development of a bullish wave. Only reaching the end bullish momentum shows up. We buy at the bottom and hold.
Namaste.
✅ Trade here on $BTC
