Bitcoin update 25.09.23
Updated
Hi , the market has been very boring for the last few months, I think it's hard to disagree with that.
During this time of course there has been manipulative pumping of small liquid altcoins.
But still boring or am I getting old :)
I see a further rapid decline in bitcoin price, in the next 2-3 weeks, liquidation of all those jaded crypto traders, and after that I expect a bull rally, that's what I said in previous posts.
Let's put it this way, I have long ago made an analysis and came to the opinion that we will go below 16k is 20% probability based on analysis and reserch of all reversal patterns, on the history of other assets. 20% is the black swan (pandemic, nuclear strikes, etc.).
Globally, we have been in a bull market since November 2022, every previous cycle had a sub-cycle with crowd disappointment, and we are approaching that state.
Once there is that final down movement I will only look up and be bullish until September 2025.
Regarding interest levels for me - I have shown all the interest levels on the chart with blue and yellow boxing
I would also like to point out that the current distribution is very similar to the 2021 - 2022 distribution
I don't want to mislead you, but as you can see bitcoin holders don't believe in the bitcoin crash and collapse scenario (it's stupid because it's a cow that gives milk and it would be very stupid to kill this cow) and are set for the long term, I'm one of them - in the cypto world bitcoin is gold.
About ETFs - a lot of talk is it good or bad? it is 100% good in the long run for bitcoin price. ETFs are an opportunity for huge capital to enter cryptocurrency. While regulators are rejecting ETFs those very same financial companies are buying up real bitcoin. Everyone understands the prospects of this asset and the interest in it.
Best regards EXCAVO
During this time of course there has been manipulative pumping of small liquid altcoins.
But still boring or am I getting old :)
I see a further rapid decline in bitcoin price, in the next 2-3 weeks, liquidation of all those jaded crypto traders, and after that I expect a bull rally, that's what I said in previous posts.
Let's put it this way, I have long ago made an analysis and came to the opinion that we will go below 16k is 20% probability based on analysis and reserch of all reversal patterns, on the history of other assets. 20% is the black swan (pandemic, nuclear strikes, etc.).
Globally, we have been in a bull market since November 2022, every previous cycle had a sub-cycle with crowd disappointment, and we are approaching that state.
Once there is that final down movement I will only look up and be bullish until September 2025.
Regarding interest levels for me - I have shown all the interest levels on the chart with blue and yellow boxing
I would also like to point out that the current distribution is very similar to the 2021 - 2022 distribution
I don't want to mislead you, but as you can see bitcoin holders don't believe in the bitcoin crash and collapse scenario (it's stupid because it's a cow that gives milk and it would be very stupid to kill this cow) and are set for the long term, I'm one of them - in the cypto world bitcoin is gold.
About ETFs - a lot of talk is it good or bad? it is 100% good in the long run for bitcoin price. ETFs are an opportunity for huge capital to enter cryptocurrency. While regulators are rejecting ETFs those very same financial companies are buying up real bitcoin. Everyone understands the prospects of this asset and the interest in it.
Best regards EXCAVO
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