Bitcoin continues to shape out in fantastic fashion with a chart that looks like it is ready to explode. The daily, weekly, and monthly charts are all tightening up. When we look at a chart from the 2016-2017 period, we can see how similar our current action is to that time period. In fact, it looks almost identical to the beginning of Bitcoin's explosive phase.
In addition, the IBIT chart also is shaping up extremely well. The monster accumulation on the weekly chart is impossible to ignore. The tight symmetrical action over the past few weeks is another excellent sign of institutional accumulation.
Risk right. Sit tight.
Full Disclosure: I currently own Bitcoin & IBIT.
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