#BTCUSD is long

Bitcoin / TetherUS BINANCE:BTCUSDT

tavakolighanbar

BTC is long term.

** The Zone of Frustration **
Since the January 03 2022 1W candle, Bitcoin has been trading (closing) entirely below the 1W MA50 (blue trend-line). I have labelled the periods of price action within the 1W MA50 and 1W MA200 as the ‘Zone of Frustration’ where traders start to get confused at best or lose complete faith in the market. Right now it seems that we are approaching the end of this period. Notice how this is normally marked by a strong rejection on the 1W MA50 (March 28 2022 and July 30 2018 1W candles. In 2014, it was a near rejection on the November 10 2014 candle).

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