I've highlighted Bitcoin multiple times this year as it's moved from Stage 4 to Stage 1 to the current strong Stage 2 advance that's challenging the all time highs. See my twitter feed for some of the posts on the week of the Stage 2A breakout: https://twitter.com/stageanalysis/status/1287330884987899904?s=20 - This is a great example of how you can use Stage Analysis to be ready for the Stage 2A entry point, and hence get in at the right time
Since the Stage 2A breakout point on the 27th July 2020 its moved in textbook fashion with an initial rally and pullback to setup for the secondary B entry point, and then made a Stage 2 continuation breakout higher on the announcement by PayPal that US users of PayPal would be able to start buying and selling Bitcoin directly from the PayPal app, which has driven the Stage 2 advance towards the all time highs.
Whether this continues is an unknown as always. However, with new mainstream ways to buy and sell bitcoin, it could be a key driver going forward, and may encourage more mainstream retail adoption, institutional investors and new ways to buy and sell from other companies. So I'll be watching for the next base to form, which seems logical to me that it will meet resistance around the all time highs and start to base there.
#btc #bitcoin #trading
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.