I welcome you to crypto bear market where you will taste what real blood feels like. Longer term i am bullish on btc but top of this cycle is in. If you think bitcoin will break its ATH any time soon (which most of you guys think) then this will be hard on you. Now the real question is "Will it last for 1 or 2 years ? or Will it be shorter say 5-6 months ?". I guess time will tell. RSI was at 97 at ATH and just like last top confirming that this was the top. Red boxes are showing the Accumulation Phase before next cycle. As you can see i draw three FIB retracement from bottom to each top. The accumulation phase was every time around 78 fib. So the accumulation phase for start of new cycle should be around 4k. price can go below that but it will form base around 4k-4.5k. I think every body will be waiting to BTFD at 3k-3.2k so why not pull the trigger at 4k.
AND finally its not a finacial advice and this idea can be full of S#!%... and any suggestion & view are welcome.
very true.... it might take months or years befor full buyers convection is achieved. bitcoin will fall taper to 3k to 4k..will take months ...cozz it started at 1k...the cycle will start at double of its starting price of cycle...my guess after studying previous bubble (2013). it may now go upto 11k now...but theres huge resistance there...which will eventully bouce back to more lower below 6k... market sentiment is bearesh right now...its not finding new buyers...hence price is stuck at 9k - 10k.
its just my prediction n anaylsis...dont want to hurt others sentiment. i will be happy if its bullish. planng to take psotion after 14k.
its just my prediction n anaylsis...dont want to hurt others sentiment. i will be happy if its bullish. planng to take psotion after 14k.