Ivan On Tech – IS BITCOIN WEAK!!?? big signal… (29.05.2024 Summary)

Ivan On Tech – IS BITCOIN WEAK!!?? big signal… (29.05.2024 Summary)

IS BITCOIN WEAK? Ivan Says No Way!

😓 Are you worried that Bitcoin is looking weak after getting rejected at $70,000? Don’t be, says Ivan. He believes Bitcoin is right where it should be according to the cycles it has been following closely.

🕰️ Ivan reminds us to look back at 2020 when Bitcoin went sideways for weeks and weeks, causing many to get depressed. But then towards the end of the year, it rallied fantastically! The same pattern is playing out now.

“Cycles repeat very closely, especially this cycle. It’s crazy how closely it has been repeating,” says Ivan. “If you’ve been here through the last cycles, this sideways action is basically normal.”

⛽️ For Ivan, being a long-term holder and understanding the cycles is key. He sees the current range as basically a repeat of 2017 as Bitcoin gears up for its next big move higher.

💹 So don’t sweat the pullback at $70k. Ivan believes Bitcoin is just taking a breather before heading to unprecedented new heights, following its historical cycles. The weak hands are getting shaken out, setting the stage for the strong hands to buy ahead of the next explosive rally.

As Ivan puts it: “The chart is looking fantastic still. When you zoom out, the chart is super strong.” Rest assured, this seasoned crypto vet has full confidence in Bitcoin’s strength and bullish trajectory going forward.