BTC trend analysis
Atualizado
Taking a quick gander at the log chart and we can see that if we match the magnitude of the first major correction (-85% from peak to trough) we complete this downward move around psychological support at 10k.
Due to the parabolic impulsive post pandemic move in '20 from 10000 to 36000, I expect that we will consolidate and stay rangebound in this zone for the next couple of years. From an EW perspective we're either drawing a wave B here or the 1-2 of the larger wave III move up to 100k+.
Regardless 10-11k seems like a good spot to start accumulating longs for a medium term length trade.
Due to the parabolic impulsive post pandemic move in '20 from 10000 to 36000, I expect that we will consolidate and stay rangebound in this zone for the next couple of years. From an EW perspective we're either drawing a wave B here or the 1-2 of the larger wave III move up to 100k+.
Regardless 10-11k seems like a good spot to start accumulating longs for a medium term length trade.
Nota
At about 77 bars prior to the prior 2 halvings, some type of capitulation event happened... so the question is, has that happened with the recent FTX problems, or is this capitulation still to come?If you're a believer in BTC as a storer of value, then this is a great place to start a position.
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