This is a very Bullish setup.

1. Golden Cross

2. New highs

3. Consolidation into key demand

4. Retest of the 5OD EMA

5. Expansion

All whilst the sentiment is very bearish/exhausted.

People are losing hope, and that is key before an aggressive breakout.

As per my original thesis on this, still expecting $102k/100k with some wicks.

This has become further confluence WITH the 50d EMA now being at $100k.

In addition we have something very interesting happening here.

For the first time in as far as I can see, Long term BTC holders are continuing to buy even though we have broken into new highs.

Almost always, they begin to sell as we move into new highs, usually they start to sell before that.

This time, they are continuing to buy.

In addition we have something very interesting happening here.

For the first time in as far as I can see, Long term BTC holders are continuing to buy even though we have broken into new highs.

Almost always, they begin to sell as we move into new highs, usually they start to sell before that.

This time, they are continuing to buy.