Bitcoin cycle 300000$ or 30000$
This idea, not a specific buy signal, is just my guess.
I am still bullish on Bitcoin, but in this idea I will consider a bearish scenario as well.
Majority opinion: Bitcoin will reach $ 300k - $ 500k by next summer (seen on the graph of the idea)
- Personally, I think this alignment is very unrealistic and now I'll tell you why. If the price of bitcoin rises above 400k $ in this cycle, then the growth in percentage from the bottom of the cycle to the new ATH, and from the past ATH to the new one, which is unlikely, because earlier with each cycle, the percentage of growth from the ATH of the previous cycle and from the bottom of the cycle became less.
My bullish opinion: Bitcoin will reach $ 230k - $ 380k by next summer
chart - tradingview.com/x/zFdvuF6E/
- So far, I am keeping this development option, because if we compare the current bull cycle and the past ones, we are only at the beginning of the 5th base (possibly the beginning of the fourth), as this alignment does not contradict the previous cycles, longer than the past and the increase in % is less.
chart - tradingview.com/x/xtsmGUXS/
It is quite possible that there will be something like 2 tops as in the bullish cycle of 2013, then for a couple of months we will have a sideways or slow recovery and then growth.
chart - tradingview.com/x/eUgINl1u/
Well, or we v - movement will recover within a couple of weeks or even days, and go to the new ATH. As it was in the last correction before the last base of the parabola
My bearish opinion: the peak of this Bitcoin cycle was $ 64850, and the fact that the bearish cycle has already begun
- This option is possible, but then the patterns of past cycles are violated. This arrangement shows several things. Pi cycle top (it shows that 64800 is the peak, but in the cycle of 2013 there were 2 peaks and both showed this indicator), So far the weekly candle is below 25 MA(the candle closed lower only in the cycle of 2013 or in a bearish trend). In general, we can say that while the price of bitcoin has not fallen below $ 20,000, it is too early to consider a bearish alignment, because globally we are in an uptrend
I think within a couple of weeks we may go down to $ 30k, and after this movement we will finally fly, but it is also possible to go sideways and then go up.
In any case, since 2008, the market has become more manipulated and technical analysis can fail.
not financial advice
#DASHTOTHEMOON
I am still bullish on Bitcoin, but in this idea I will consider a bearish scenario as well.
Majority opinion: Bitcoin will reach $ 300k - $ 500k by next summer (seen on the graph of the idea)
- Personally, I think this alignment is very unrealistic and now I'll tell you why. If the price of bitcoin rises above 400k $ in this cycle, then the growth in percentage from the bottom of the cycle to the new ATH, and from the past ATH to the new one, which is unlikely, because earlier with each cycle, the percentage of growth from the ATH of the previous cycle and from the bottom of the cycle became less.
My bullish opinion: Bitcoin will reach $ 230k - $ 380k by next summer
chart - tradingview.com/x/zFdvuF6E/
- So far, I am keeping this development option, because if we compare the current bull cycle and the past ones, we are only at the beginning of the 5th base (possibly the beginning of the fourth), as this alignment does not contradict the previous cycles, longer than the past and the increase in % is less.
chart - tradingview.com/x/xtsmGUXS/
It is quite possible that there will be something like 2 tops as in the bullish cycle of 2013, then for a couple of months we will have a sideways or slow recovery and then growth.
chart - tradingview.com/x/eUgINl1u/
Well, or we v - movement will recover within a couple of weeks or even days, and go to the new ATH. As it was in the last correction before the last base of the parabola
My bearish opinion: the peak of this Bitcoin cycle was $ 64850, and the fact that the bearish cycle has already begun
- This option is possible, but then the patterns of past cycles are violated. This arrangement shows several things. Pi cycle top (it shows that 64800 is the peak, but in the cycle of 2013 there were 2 peaks and both showed this indicator), So far the weekly candle is below 25 MA(the candle closed lower only in the cycle of 2013 or in a bearish trend). In general, we can say that while the price of bitcoin has not fallen below $ 20,000, it is too early to consider a bearish alignment, because globally we are in an uptrend
I think within a couple of weeks we may go down to $ 30k, and after this movement we will finally fly, but it is also possible to go sideways and then go up.
In any case, since 2008, the market has become more manipulated and technical analysis can fail.
not financial advice
#DASHTOTHEMOON
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