Bitcoin long-term analysis

The parallel with the previous cycle is obvious.

Continued decline to 200W SMA should be expected. Death cross is likely averted, and a new bullish cycle will begin perhaps in a year's time.

The volume corresponds with this theory.

Of course, this time it's different.

Super-long-term target will be between 100k & 200k (see pitchfork). That's the end of Wave 5. I guess around 2023.

That's when the crypto bubble will have a huge burst. Crash to perhaps 10-20k. New, better techs will arise from the ashes.

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This screenshot shows Wave 5

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200W SMA target is possibly around 2.5k

just to clarify

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@imkeshav suggests that the Wave 4 may be over, which of course is possible

We're under 50W but not decidedly. A break under 7k would confirm that.

I think this market is decidedly more volatile & hence a deeper correction is within reason.

Must admit, the main reason I think it could still go down is the 50W SMA & of course the death cross on the daily.

Anyway, the summer is coming...

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market indecision, too go up must go down first; to go down must go up first

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the market has indeed stabilized in the last few days, if only because the willingness to sell is low

there's a real chance that the market stays in this areas for the mid-term

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weekly death cross?