The Bitcoin uptrend is the most exuberant seen in the past 3 years and the institutional interest are purchasing crypto daily.
Some good ol' Killer Whale TA coming at you!
Notice inside the Bubble the price action bouncing off of the Second Point of Demand (white line inside the bubble).
Now notice how far above the Third Point of Demand that the Second Point of Demand lies.
Stay with me here.
The Second Point of Demand is the 2nd most likely place that buy orders will be in the short term. The price action of BTC just bounced off of the 2PD like a champion. This tells us that there is an incredible amount of buying pressure more than $2,500 above the 3PD or the MOST LIKELY place that buy orders are accumulated. The Third Point of Demand (3PD) sits at $16.1 K currently.... This Uptrend is the most exuberant I have seen in the past 3 years and in my humble opinion this thing is really ramping up. Not to mention that the institutional interest for BTC and Crypto is literally purchasing more BTC on a daily basis than ever.... ever... literally in the history of everything. Absolutely Amazing!
Killer Whale Crypto