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Bitcoinsignals

The cyclical cycle continues (Part 2)Take look at part 1 first below : Bitcoin is starting to make big moves and even though I think we have seen this move mostly play out already , this is only the beginning of a much larger shift to the upside. Last TA I presented this Bitcoin model with time markers showing that the cycle is in fact repeating in time and patterns , this analysis will be going over what could happen the rest of the year if we carry on mirroring. If we take a look at the main chart we can see that Bitcoin is printing a weekly candle very similar to 2019 after the cycle low was in. The question is now if this is the start of a relief rally then where does it top out? This is where we will be using the Gann Fan , for price to reach all time high again price must break the last Gann band which is marked as 8/1. Last cycle we had a perfect 8/1 hit at 14k that signalled the top of the relief rally at 13.8k and once we broke the 8/1 Gann years later the bull market started. So if the cycle keeps mirroring we have a top somewhere between 4/1 or 8/1 which would be anything from 38k-51k Bitcoin. The rally will only last about 140-160 days this time estimate based on previous cycles , so would put a top sometime late June 2023. That's it folks 140 days you have because if we get close to the 8/1 Gann come June 2023 and we start getting divergence , I will be extremely bearish, that will confirm to me that there is a very high chance we have a second capitulation event that marks Bitcoin signature marco double bottom. Bitcoin always puts in a double bottom before hitting all time highs and they always happen around Halving , sometimes it's before , sometimes it's after but it happens every cycle. Sometime between November 2023 and the next Halving which is in March 2024 we could expect a big crash that takes out all the way back down to 15.5k , it is at this moment which I will flip extremely bullish and go all in. So now we go over the most important piece of evidence that we have , the USDT dominance chart : This chart has been amazing in 2022 catching all the big moves in the market and all year I have been waiting for this marco (White)support line to break. It finally broke and this is the primary reason why this pump is not like the rest and why you should be paying attention because it's time to prepare. At the bottom of this marco channel we find Bitcoin tops and at top of it we find Bitcoin bottoms , we have never closed out of this channel , in June and Nov 2022 there were two major crashes in Bitcoin and the USDT dominance hit exactly the same level and never closed out of the channel. These are the facts , this channel is golden , using this macro and micro channel we know where we are in the cycle and what moves are coming next. Last TA we knew that the chances were very high of a upside move based on the rising wedge that USDT D was in . Rising wedge broke and Bitcoin shot up , USDT D one step ahead time and time again. This is why I said at the start this move is most likely done because we reached the bottom of this micro channel . This micro channel is where Bitcoin likes to form a base and consolidate before a much larger move , which could take anything between 30-45 days. So is anybody ready for a move to 48k? I don't think so most of the market is in disbelief with nearly 1 billion dollars in short liquidations. Since I got into this space it has been "over" for Bitcoin more times than I can count and every single time Bitcoin finds a way to shock you and fight back , this cycle it will be no different. "The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible" Satoshi Nakamoto
INDEX:BTCUSDLong
by Sporia
6
BITCOIN Knocking on the massive 2-year Liquidity Zone's door.Bitcoin (BTCUSD) closed last week the first 1W candle above the 1W MA50 since March 2022, ending a full year of intense selling pressure. This closing opens up enormous long-term bullish possibilities as the new Bull Cycle has just started and the first challenge is the massive Cycle Liquidity Zone (green range) that goes back to January 2021! As you see this zone, which sits around the 0.5 Fibonacci retracement level and within the 0.382 - 0.618 Fib range, has provided long-term Support three times but when 2 straight 1W candles closed below Fib 0.5, it turned into Supply and opened the way for the May-June 2022 collapse. It is easy to understand therefore the importance of this Cyclical Zone. BTC is about to enter it and most likely will test Fib 0.5 (32750) and provide us with the direction. A double candle closing above it, could be what fuels Bitcoin to even higher Highs. Don't neglect also the 1W MA100 (green trend-line), which most likely will be on the 0.5 Fib by the time of a potential test. It is worth noting that all the time the Liquidity Zone was tested, were with the Supertrend indicator in red. This time the indicator is in green, showing that Bitcoin has indeed started a new Bull Cycle. So what do you think this Liquidity Zone test has in store for Bitcoin? Will it be bullish or bearish? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
2
BITCOIN Does Fetch.AI pave the way for BTC?Striking similarities between Bitcoin (BTCUSD) in the past 2 years with Fetch.AI (FETUSDT) on the 1D time-frame. The charts are pretty self-explanatory as we have pointed out the basic features they share. But as BTC is rising aggressively off its 1D MA200 (orange trend-line), when Fetch.AI did that on December 20 and reached its 0.382 Fibonacci retracement level, it broke above Fib 0.5 equally fast and easily where it consolidated before eventually filling the gap on the April 2022 Resistance Zone and Fib 0.786 where it consolidated again and even this time pulled-back below the 1D MA50 (blue trend-line). If this is a roadmap for Bitcoin then the 48000 - 50000 Zone can be a real possibility much quicker than most expect. Do you think that will be the case? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
2
BITCOIN The party has started and has another 33 months left!Bitcoin (BTCUSD) gives us a very clear picture with regards to its long-term Cycles on the 1M (monthly) time-frame. As you see, once the 1M RSI hit the bottom (Lower Lows trend-line) of its 10 year Channel Down, BTC bottomed and the new Bull Cycle started. This Bull Cycle should last for approximately 35 months (1065 days) as this was roughly the duration of the previous two Cycles. Even the Bear Cycles are on almost perfect symmetry as the last three lasted for around 13 months (396 days). We have also plotted the patterns of the last two Bull Cycles on the current one in order to give an average projection. If the top hit somewhere within Multiple 6 and 7 (Fib MAs), then we can see $150k. So what do you think about this Cycle symmetry? Has the Bull party just started and has another 33 months to it? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
11
BITCOIN The S&P/GOLD ratio is leading the way!This is a unique study showing the correlation of Bitcoin (BTCUSD) with the S&P500/Gold ratio (SPX/XAUUSD) displayed by the orange trend-line. On this 1W time-frame, Bitcoin has broken above the 1W MA50 (blue trend-line) and will attempt to make the first closing above it, in order to confirm the new Bull Cycle beyond any doubt. In the previous Cycle this took place on the week of April 29 2019. As you can see, the patterns between the two Cycles are identical. Bitcoin tends to peak earlier when the S&P500/Gold ratio makes its last Higher High before it eventually tops after BTC is well within its Bear Cycle. The S&P500/Gold ratio then forms a series of Lower Highs, the second of which is when BTC bottoms (excluding the FTX crash, that would have been the bottom). At the moment we are expecting a Lower Low on the S&P500/Gold ratio in order to price the first High of the first rally of the new Bull Cycle. Do you think the S&P500/Gold ratio is leading the way for Bitcoin? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
7
BITCOIN Can we finally end the comparisons with August 2015?As everyone is aware, Bitcoin (BTCUSD) made an incredible rebound on the 1D MA200 (orange trend-line) 5 days ago shortly after forming a Bullish Cross with the 1D MA100 (green trend-line). As many analysts have been comparing the current Cycle Bottom to that of 2015, it is perhaps time to call it a day on expectations for a 15.5k Double Bottom as it happened on August 2015. As we have clearly explained to you and published on our January 21 analysis, expecting a drop like August 2015 wasn't an optimal strategy as it was caused by the Bitfinex flash crash: As you see, that analysis has quite accurately grasped BTC's movement these past 2 months, projecting also February pull-back. Its first target before another consolidation/ pull-back was around the 0.5 Fibonacci (33k). On the current analysis we will take it a step further, showing another angle by comparing it with the 2015 fractal, excluding of course (as we also told you 2 months ago) the August 2015 Bitfinex crash, which was an unexpected event that distorted the sound technical trend up to that point. ** Similarities between 2023 - 2015 ** First of all, observe how similar the 1D RSI sequences traded. The new rebound started once the 1D RSI broke into the 30.00 oversold barrier. If we also exclude the November 08/09 2022 FTX crash, we can see that on both fractals the range from the prior Low to the Resistance is around +40%. Assuming the Bitfinex crash in August 2015 never happened, and we calculate the impulse rise from the 1D MA200, we get an exact +100% rise on the November 04 2015 High. If this gets repeated today, it gives a $39000 target. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CRYPTO:BTCUSDLong
by TradingShot
3
BITCOIN above the August High! Congratulations buyers!Bitcoin (BTCUSD) rebounded on the 1D MA200 much more easily and much faster than anticipated as per our Inverse Head and Shoulders buy signal 4 days ago: The long-term target of 41300 is intact but as the price broke above the 25250 August 15 High with force, we are taking our perspective on the more short-term again, on the 4H time-frame. As you see, if we exclude the naturally unexpected sell-off of March 09 -10 due to the Silicon Valley Bank (SVB) bankruptcy news, the pattern that stood out was the Bullish Megaphone. That was technically supporting until the SVB fundamentals took over. Now that the price is close to the top of the Megaphone (Jan 21 Higher Highs) and the 2.236 Fibonacci extension, we expect a technical pull-back towards Pivot Zone 2 (Pivot Zone 1 was the range that supported the previous Megaphone correction) and the 1D MA50 (red trend-line). The short-term target is 28500, a little below the 2.786 Fibonacci extension. On a side-note, notice the 4H RSI testing its Lower Highs trend-line. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
2
BEAR TRAPThis could be a huge bear trap setup right here just like 2019. The SPX500 holding support nicely for now , even though we are hours away from opening yesterday close was pretty good . If we remain in this ascending channel it would be the final flush out before the next leg. Lets not forgot the higher timesframes are looking good , contracting histogram momentum to the upside . The legendary hash ribbon buy signal with crazy hit rate. If we break this ascending channel the 2019 playbook goes out the window and we go back to the charts see what we can find but until then , setup for a long ,could take a week to build divergence.
COINBASE:BTCUSDLong
by Sporia
45
BITCOIN is about to explode as GOLD/DXY is leading the rally!This is Bitcoin (BTCUSD) on the 1W time-frame against the Gold/DXY ratio. As you see, since 2016 the Gold/DXY ratio has been a leading indicator to BTC's trend on the long-term, filtering out what's needed. In the last two Cycles, the ratio bottomed out first before BTC, broke above its Bear Cycle Support and posted a Bull Flag before BTC and topped before BTC. At the moment the ratio just broke above its Bull Flag, while BTC is rising too and will have a crucial week, attempting its first 1W candle closing above the 1W MA50 (blue trend-line). We have claimed for weeks on our channel that Bitcoin is currently in the same symmetrical level it was in April 2019. A closing above the 1W MA50 would validate this and set a short-term target on the Bear Cycle Support around $29000 and then pursue our longer term targets. Do think that the Gold/DXY ratio is the leading indicator for Bitcoin's new rally? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
9
Bitcoin- Back above support. I'm not bullish thoughAfter the recent high at 25k, bitcoin has started to drop and last week it also fell below the support level in the 21k area. However, this was a short-lived spike and now the price is back above again. Although technically this could be an indication of reversal, with the problems from the financial market, I don't expect much continuation to the upside. A new drop under 21.500 would put strong selling pressure on the price and 18k support zone could be bears target. I'm looking to sell
BITSTAMP:BTCUSDShort
by Mihai_Iacob
45
BITCOIN Huge Inverse H&S bottoms and targets $41300!Bitcoin (BTCUSD) hit its 1D MA200 (orange trend-line) for the first time since January 13, which was half-way through the first rally of the new Bull Cycle. The long-term pattern since the November 21 2022 bottom can be seen as a big Inverse Head and Shoulders (IH&S) that has started to form the Right Shoulder. The short-term Resistance is the 1D MA50 (blue trend-line) and the pattern's core Resistance is 25250, which has rejected two tops already (August 15 and February 16, 21). Right now the price hit the Bear Cycle's Lower Highs trend-line, which broke upwards on January 20 and confirmed the new Bull Cycle. Along with the 1D MA200 they form a formidable Support Cluster, with the IH&S neckline being a little lower at 18150. This is also where the Higher Lows trend-line that started on the November 21 bottom is located at. That is the second and final Support Cluster. The 1D RSI is below the oversold barrier of 30.00 and has a Support at 20.50. Being also on Higher Highs, this is a Triangle pattern. The technical target on the IH&S is the Fibonacci 2.0 extension, measured from the Head of the pattern to its Resistance (+63.17%). That gives a $41300 Target. Are you long on this one? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
34
BITCOIN Can this wick keep the 2019 fractal alive?Bitcoin (BTCUSD) is not having the best 3 week stretch as it broke below its 2 month Channel Up. The April 2019 fractal, that has drawn widespread comparisons with the current price action recently, broke its Channel Up on a 1D candle wick, hit the Support made off the 1st Low and rebounded. Once the MACD formed a Bullish Cross, the next bullish wave started. Today's pattern (on 2D) has the Support of the 1st Low at 20500, a little above the MA50 (blue trend-line). Is this the last resort keeping the the 2019 fractal alive or totally irrelevant in your opinion? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:BTCUSD
by TradingShot
11
BITCOIN Hidden Inverse Head & Shoulders pattern points to $165k!As Bitcoin (BTCUSD) is battling to break its 1W MA50 and extend the rally of the new Bull Cycle, as all previous Cycles did, we looked at the 1W time-frame from a different angle and present to you an outlook that may have gone overlooked. As you see, every BTC Cycle Bottom can be viewed as the Head of a giant Inverse Head and Shoulders (IH&S) pattern. The first two Cycles topped on the 3.0 Fibonacci extension counting from the 0.786 retracement level of the previous Cycle's top-to-bottom. The most recent Cycle topped on the 2.0 Fibonacci extension. As you see an uncanny constant on all Cycles so far is that the first High coming out of the Bear Cycle (that gives a pull-back that breaks below the 1W supertrend indicator) has always reached (or almost) the 0.786 Fib of the previous Cycle's Top. Assuming that is the completion of the Right Shoulder of the IH&S pattern, we measure the Fibs from the bottom and end up with the 3.0 Fib extension Top on the first two Cycles and the 2.0 Fib Top on the third (previous) Cycle. A repeat of the moderate 2019 - 2021 Cycle to the 2.0 Fib extension gives as a projected Top for the current Bull Cycle at $165000! Do you agree that this is realistic in the next 2 years? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSDLong
by TradingShot
12
BITCOIN A Fibonacci Circles Roadmap you've never seen before!This is a unique representation of the Bitcoin (BTCUSD) Cycles using the Fibonacci Circles, a tool than certainly prints a very interesting Roadmap relative to the previous historic Cycles. The chart focuses on the last two Cycles but for a more complete projection we also incorporate 2015 - 2017. Each Cycle's epicenter is located on the candle that breaks and closes below the horizontal Bear Cycle Support. The 2022 Bear Cycle bottomed on the 2.618 Fib extension while the 2018 Bear Cycle started rising on the 1.618 Fib. It is no coincidence that the current struggle on the 1W MA50 (blue trend-line) is done exactly on the 2.618 Fib as in April 2019, the same 1W MA50 struggle was done on the edge of Fib 1.618. The symmetricity between the Cycles is striking indeed. In that regard, the current Bull Cycle appears to be more similar with the 2015 -2017 Bull Cycle as its 1W MA50 struggling was also made on the 2.618 Fib. That Cycle didn't really start rising before hitting Fib 3.618 as you can see on the chart below: We have plotted both of those two past Cycles on the current Bull Cycle, based on which Fib they bottomed. As you can see the representation offers valuable insight as to how the current Cycle may evolve. It is very likely to see a pull-back to Fibonacci 3.618 before the 1W MA50 finally breaks and starts the real Bull Cycle rally. Do you think that's a realistic scenario or the next Cycle Fib will be breached at a much higher (than the current) level? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
6
BITCOIN Moment of truth to confirm or dismiss the 2019 fractal!There has been tons of talk about Bitcoin's (BTCUSD) similarity of the current bottom reversal with the 2019 one. A lot of comparisons have been made, we've started doing that since November, but the time has come that BTC either confirms or dismisses the 2019 fractal. As you see on the left chart (2023) the consolidation within the Bullish Megaphone that Bitcoin has been trading in for the whole month of December is naturally creating an RSI Bearish Divergence due to the aggressive January rally. We can see the very same formations in 2019 (right chart), with the RSI supported by a Higher Lows trend-line. The time-frames are different (3D against 2D) to account for the fundamental noise and serve better the purpose of comparison. The market has now no other choice but to make its move by either validating the 2019 fractal by breaking above the orange trend-line or negating it and end the comparison discussions once and for all. What do you think the market has in store for us? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
15
BITCOIN The Channel Up is holding perfectly. $26300 next Target.Bitcoin (BTCUSD) completed a strong drop yesterday on session's close but that technically reached the bottom (Higher Lows trend-line) of its 1.5 month Channel Up pattern. As with the previous Higher Low drop, the price completed a -12% decline. The 4H RSI is replicating a similar pattern to that previous drop and broke below the 30.00 oversold barrier as it did on February 09. ** Death Cross and rise to $26300 ** A slightly more drop is possible to make a perfect touch on the Channel's bottom but if you see the 4H RSI rising, that would be a sign of buying accumulation at the bottom. On February 14, a 4H Death Cross sealed the bottom and was the last Buy Signal before the +18.25% rally to the Channel's top (Higher Highs trend-line). We are probably half a day before a new 4H Death Cross, thus we are already buying in expectation of a new +18.25% Higher High rise. Our medium-term Target is 26300. ** The importance of the 1W MA50 ** However we will keep an eye on the 1W MA50 (red trend-line) which is key for Bitcoin on the long-term. If the price fails to close a 1W candle above it, much like it did in mid-February, we will book the profit earlier and consider a pattern change. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
BINANCE:BTCUSDLong
by TradingShot
13
BITCOIN Limited by the weekly candle body Resistance.Many have been focusing in the past days at the inability of Bitcoin (BTCUSD) to close above the 1W MA50 (blue trend-line). Surely that is essential for maintaining the pace of the January - February rally and as we've analyzed recently, it draws comparisons with the past Cycles where they were testing their own 1W MA50. ** Resistance/ Support levels based on the 1W candle closing ** Another, overlooked for sure, aspect on the 1W time-frame the Resistance/ Support levels enforced by the 1W (weekly) candle closings. As you see on this chart, BTC not only failed to close (despite breaking it) above the 1W MA50 in the previous 2 weeks but also failed to close those candles above the 24360 Resistance which has been formed since the weekly candle of July 18 2022. As you see no candle closed above that Resistance level in July - August and the recent failures certainly show its importance. The same can be said about the 1W candle body Support at 18750, which held all weekly closings above it from June until the FTX crash. ** The Vortex Indicator ** As a result, a weekly close above 24360 will achieve a double bullish break-out as not only will it close above the 1W MA50 for the first time since April 25 2022 but also above the most important horizontal Resistance on the 1W time-frame. In order to keep things into a long-term perspective, we have added on this analysis the Vortex Indicator (VI), widely used in previous years, that has been on a Bullish Cross since mid-January. This shows that the new Bull Cycle has started and is still in its early stages. ** Projection ** It appears that even though they are not absolute, the Fibonacci retracement levels will play some part as Resistance levels in this new rally. Once BTC makes this double bullish break-out, we have the 1W M100 (green trend-line) as the next pressure level, hence potential Target and if the second part of the rally is as strong as January, it can make contact with the 1W MA100 around the 0.5 Fibonacci level, which is roughly at $32650. So what do think? Is this 1W candle body Resistance the level to break? Feel free to let us know in the comments section below! ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
INDEX:BTCUSD
by TradingShot
7
BITCOIN 1 year left until the next Halving! Start to DCA!As we left February behind, few realize that there is only 1 year left for Bitcoin (BTCUSD) before the next Halving (no4) as it will experience this supply shock event in March 2024! This 1W time-frame, is a simple illustration of why it is still a good idea to start Dollar Cost Averaging (DCA). ** Similarities with past Cycles. 1W MA50 test ** We see a lot of similarities with past cyclical positioning on this date, particularly with the previous two Cycles. As you see 371 days (53 weeks) before their Halving events, both Cycle 3 on April 29 2019 and Cycle 2 on June 29 2015 were already on the 1W MA50 (blue trend-line) attempting to break it, but at the time failing to. This is exactly where BTC is at right now. This symmetry is uncanny. Needless to say that it doesn't hold on Cycle 1, which was much more aggressive, hence shorter. ** The 0.618 Fibonacci at the time of the Halving ** It is equally interesting to see that at the time of each Halving, the price was on or marginally above the 0.618 Fibonacci retracement level from the Cycle's bottom. In November 12 2012 it was at $12 (marginally above Fib 0.618), in July 04 2016 it was at $690 (little above Fib 0.618) while in May 04 2020 it was at $10000 (exactly on Fib 0.618). This model suggest that if Bitcoin is trading again at least on its 0.618 Fib at the time of Halving 4 (March 2024), then it will be around $40000. Whether it breaks this level earlier and then retreats back to it, this projection doesn't associate with, it simply suggests where it could be at the time of Halving 4. Do you think we will be at $40k then by March 2024? Feel free to let us know in the comments section below! Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this analysis!
INDEX:BTCUSDLong
by TradingShot
4