BTC achieved the target I had set and got to the top of the channel at 38500.
Now the obvious thing is for BTC to blow off some steam and come back down and hopefully maintaining bullish market structure.
Also looking back in history, we also know that the 2nd half of November is usually a bearish month tapering off into December with maybe recovery in Jan.
This is not set in stone but would make sense to me given the past timings of how long BTC price stayed in each area - roughly 2 months.
So cool off in late November, maybe consolidation in December and then recovery in Jan 2024 and hopefully the real bull run starts.
This is all ground breaking as well because there is a new element to the market in the ETFs. So just bear in mind that this can throw a spanner in the works.
Now the obvious thing is for BTC to blow off some steam and come back down and hopefully maintaining bullish market structure.
Also looking back in history, we also know that the 2nd half of November is usually a bearish month tapering off into December with maybe recovery in Jan.
This is not set in stone but would make sense to me given the past timings of how long BTC price stayed in each area - roughly 2 months.
So cool off in late November, maybe consolidation in December and then recovery in Jan 2024 and hopefully the real bull run starts.
This is all ground breaking as well because there is a new element to the market in the ETFs. So just bear in mind that this can throw a spanner in the works.