Updated Analysis of Bitcoin's Daily Cycle Low (DCL)
Updated
Due to the complexity of the previous chart, I am providing an updated close-up of Bitcoin's daily cycle low (DCL). This cycle usually spans 60 days, with a tolerance of plus or minus 6 days. With the current timing, it seems that the opportunity for Bitcoin to form another DCL is diminishing.
Additionally, a CME gap is anticipated to establish a specific price level at 17:30 ET today. Historically, these gaps have a tendency to pull Bitcoin's price back to this level when traditional markets open on Monday. Given this recurring pattern, it's unlikely we will see a DCL this weekend before June 30th, unless there is an extraordinarily rapid drop to $58,440 within the next 7.5 hours, which would be remarkable. It's important to note that significant price drops can occur even without hitting a new DCL, though this is not commonly observed.
Predicting what comes next is challenging, but I remain hopeful that we might reach an all-time high (ATH) by the end of July. The dynamics of Bitcoin’s price movement continue to captivate and offer numerous speculative opportunities.
Additionally, a CME gap is anticipated to establish a specific price level at 17:30 ET today. Historically, these gaps have a tendency to pull Bitcoin's price back to this level when traditional markets open on Monday. Given this recurring pattern, it's unlikely we will see a DCL this weekend before June 30th, unless there is an extraordinarily rapid drop to $58,440 within the next 7.5 hours, which would be remarkable. It's important to note that significant price drops can occur even without hitting a new DCL, though this is not commonly observed.
Predicting what comes next is challenging, but I remain hopeful that we might reach an all-time high (ATH) by the end of July. The dynamics of Bitcoin’s price movement continue to captivate and offer numerous speculative opportunities.
Trade closed manually
DCL confirmed 5th og july. BTC should rally the nect 60 days
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