What Happens After Lengthy BTC Consolidation? InvestAnswers Looks at Periods of Accumulation for Bitcoin

What Happens After Lengthy BTC Consolidation? InvestAnswers Looks at Periods of Accumulation for Bitcoin


A popular crypto analyst is looking at past cycles to determine whether Bitcoin (BTC) will be able to awaken from its slumber and soar once again.

In a new strategy session, the host of financial education YouTube channel InvestAnswers tells his 390,000 subscribers that while stagnant price action is frustrating for investors, these periods of consolidation are usually followed by upside breakouts.

The analyst references a chart that looks at BTC performance over the past few bull runs and retracements dating back to the summer of 2020.

Trending: Vaccine mandates around the world collapse after U.S. Supreme Court decision

“I’m always kind of looking for signs that are out there.

If you look at my three-step [chart], we had step one in the summer, we were flat for 11 weeks. We had step two, flat for a

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend