Where next and When for this Bitcoin Cycle- is it Over ?

27 Ara 2024

It is Far from over.
In fact, in many way, Bitcoin has Just begun its new life.
It was born in 2008, it has just gone through its childhood and now, as it becomes accepyted across Finacial Markets worldwide, it is maturing into adulthood.
And so, by concequence, everything I am about to say may be completely wring as we have no real idea of how high Bitcoin will go.
As the chart shows, It has been in a Rising channel since Nov 2022 and really took off in January 2023.
There are many founded expectations for a High in Spring and in Late summer to winter 2025
If we follow the Upper trend line of this channel, I would expect PA to "top out" on the Fib extensions marked with a circle at 134K in April / May and anoither ATH, THE ATH of the cycle towards the end of the year.
It is this one, the Last ATH oi the Cycle that is the hardest to pin point. On this chart, we see an area of around 170K. There are projections that see high of nearer 800K though this is optimistic..Not impossible..But optimistic.

In the shorter term, we can see how Pa has ranged along the upper trend line
https://www.tradingview.com/x/6D2C4Bzh/

Rejection from here is highly likely though on lower Timeframes, there is abil;ity to continue.
If wer get rejected, a Srop to 87K is likely to be th eMax Drop in my viewl the the 2.618 fib line,
You can see it was tested as support as we crossed over it.

So, inconclusion, I think we will see a pull back, most likely in January but then, Pa wil recover well to reach a New ATH in spring. From there, liekly for a cool summer and an end of year grand finale to New ATH
NONE of this is FACT. It is My opinion and could be wrong.. But I am working on these assumptions
Lets see if they come out or not.
Happy New Year everyone