Caleb Franzen: Behavior during BTC breakout and first consolidation defines success

Caleb Franzen: Behavior during BTC breakout and first consolidation defines success
BTC breakout and consolidation behavior key

Caleb Franzen said that individuals’ actions during the breakout above the 200-day moving average cloud in mid-August at $72,000 and the following initial consolidation phase will determine their success in the BTC bull market.

Franzen added that people have had weeks to prepare their limit orders and expressed hope for their success.

Franzen previously assessed that Bitcoin’s price moves remain within normal ranges based on key moving averages, following a recent decline in the market. He has also argued that the Magnificent 7 $MAGS reaching new all-time highs should not be interpreted as bearish for broader market conditions. For more, see his analysis on Bitcoin’s movement within normal range and his perspective on Magnificent 7 new all-time highs.

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