We notice that once log curve is broken sideways begins and drops after 10months from logcurve breakdown, for the past 10years bitcoin is still doing the bearish and bullish pattern,
so this 2022 the drop begins around december 2021 were also FEDS was too hawkish about inflation that affects the global market and specially in crypto currencies,
if we look at the past breakdowns we can tell bitcoin is doing the bearish sideways were it could last for 8-10months before the drops begins and this 2022 bitcoin can reach the bottom on october 2022 and it could be somewhere 20k or worst case scenario 11k (we dont like this i think 20k is a good number)
so after the bottom whats gonna happen?
bitcoin will enter on the long bullrun were it could last for 34months before reaching the peak and thats on august 2025 and we use our elliot waves that the wave5 of monthly cycle,
so right now we should carefully look at this sideways since FEDS is very hawkish about the interest rates to kill the inflation, it will affect the global market once this rates is keep rising.
over all im bearish for bitcoin unless feds put back the rates to 0 again then were going to bullmarket easily, too much weight as of now for global markets i think the bounce we see is just a relief rallies were whales is selling there remaining coins or shares to stocks and cryptos.
i hope this charts helps you to know were global market is going, i hope you protect your capital dont loose it because after the winter theirs always a summer were everything is hot.
Yorum
Next Halving is on May 04, 2024 check the green lines
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