Bitcoin (BTC) in 2023: Transitioning into a Bull Cycle High-Level Overview:
As we progress through 2023, it appears that Bitcoin (BTC) has transitioned into a cycle impulse wave, a bull run in a five-wave structure, from the bottom of the recent bear market.
Within this cycle impulse wave, we are currently in the first primary wave, which is projected to climb up to the 39-40k range.
However, this upward trajectory is not without potential roadblocks. Following this initial surge, we can expect a primary Wave 2 correction that could pull BTC down to the 22-24k range by the end of the year.
Short-Term Details:
Drilling down further into the structure of this first primary impulse wave, we are currently in the intermediate Wave 5. This wave could potentially drive BTC's value up to the 39-40k mark by the end of September.
As part of this intermediate wave 5, we are presently in a minor Wave 2 correction. This correction phase may see BTC's price finding support at the 28-29k level.
Following this correction, we anticipate a strong minor impulse Wave 3, potentially pushing BTC up to the 1.618 Fibonacci level, which equates to around 36k.
Subsequent to Wave 3, minor Wave 4 is predicted to retrace but should not drop below the top of Wave 1, thereby maintaining a support level of over 31.5k.
Finally, after this minor Wave 4 correction, we should see the final push of minor Wave 5. This final wave within the intermediate wave sequence could see BTC hitting the 39-40k target.
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Disclaimer: This analysis uses the Elliott Wave Theory, volume profile, and Fibonacci retracement levels for technical analysis. However, financial markets are inherently unpredictable and influenced by numerous factors. This forecast is not financial advice but an interpretation of potential market movements. Always conduct your own research and consider your risk tolerance when making investment decisions.
Please keep in mind that the Elliott Wave Theory is highly subjective and open to interpretation. In addition, real-world markets are rarely as neat and predictable as theoretical models, so anomalies and irregular patterns do happen.
Cycleanalysis
ETH Cycle Update
ETHUSD 20 Weekly EMA Now on Top
ETHUSD Last 20 Weekly EMA on Top was June 2020
After June 2020 ETHUSD used the ETHUSD 15 Weekly as Support
ETHUSD is now testing the upper BB and KC on Weekly
ETHUSD is now testing the middle lower Green zone on Weekly from ETH Log Curve
ETHUSD Weekly Support Resistance Levels
If ETHUSD can break the $2028 level, it will likely test the $2084 or $2118 levels.
ETHUSD 4 Month Cycle Perspective Confirmed in Green. Price may now use Green cycle level as support. ETHUSD 4M Cycle Levels shown in chart with Red, Yellow and Green dots.
ETHUSD Weekly Adjusted Realized Price Scale
ETHUSD Weekly Adjusted Realized Price May Now be using Level 5 (from bottom) as Support
ETHUSD 3 Weekly TTM Showing Similarities to June/July of 2020
ETH Monthly DB CF Pro Showing $2120 is a Reasonable Possibility Before Months End (for up side) and $1800 still possible for the monthly downside
How I trade using Market CyclesHere's how I trade using Market Cycles.
I use a custom made indicator, a weighted combination of Donchian, RSI & Stochastic RSI, called Market Cycle.
I use the Daily timeframe, looking for signals at the end of each trading day.
I have 2 Market Cycles: Using Daily data, and using Monthly data.
Buy signal:
Monthly MC is below 40, the Daily MC cross over 20
Sell signal:
Monthly MC is over 60, the Daily MC cross below 80. If the ATR is high, that's a stronger signal.
This strategy works best on stocks that trade in a range with a decent volatility and a decent volume.
Can be used to accumulate shares on long term investment and lower the average cost.
This is not an investment advice, use your best judgement and experience.
AI Shaping the Market Landscape of 2030-sDear @TradingView ,
Today, I would like to share some observations regarding the S&P Composite index that highlight a repeatable market cycle. It is evident that this cycle consists of a 30-20 year period of Economic Growth, followed by a subsequent phase of 15-10 years characterized by Downturn or Sideways movement. By examining the historical data, we can identify patterns that shed light on the cyclical nature of the market.
Throughout history, the market has experienced periods of significant economic expansion, often driven by transformative inventions and advancements. These innovations, such as sailing, engines, railroads, electricity, medicine, computers, the internet, smartphones, fertilizer, and artificial intelligence, have played pivotal roles in shaping positive market trends. Each breakthrough has had a profound impact on various industries, driving productivity, and spurring economic growth.
Sailing: Pioneering Global Trade (Timeline: Ancient Times)
Sailing, one of humanity's earliest inventions, opened up new avenues for exploration and trade. The ability to traverse vast distances by sea connected civilizations, facilitated the exchange of goods, and laid the foundation for early economic systems.
Engines: Powering Industrial Revolution (Timeline: 18th-19th Century)
The invention of steam engines during the Industrial Revolution revolutionized manufacturing and transportation. Steam-powered engines enabled the mass production of goods and led to the creation of railways, powering economic growth and fostering global trade networks.
Railroads: Connecting Nations (Timeline: 19th Century)
The advent of railroads marked a monumental shift in transportation. The construction of railway networks facilitated efficient movement of goods and people, enabling rapid industrialization and spurring economic development across continents.
Fertilizer: Revolutionizing Agriculture (Timeline: 19th Century)
The development and widespread use of fertilizers marked a significant turning point in agricultural practices. During the 19th century, scientists discovered the importance of essential nutrients for plant growth. The invention of chemical fertilizers allowed farmers to replenish soil nutrients, thereby increasing crop yields and transforming agricultural productivity. The widespread adoption of fertilizers revolutionized global food production, ensuring food security and supporting population growth.
Electricity: Illuminating a New Era (Timeline: Late 19th Century)
The discovery and harnessing of electricity ushered in a new era of innovation and productivity. Electric power revolutionized industries, enabling the mass production of consumer goods, while also transforming communication and lighting systems, contributing to economic growth.
Medicine: Advancing Healthcare (Timeline: 20th Century)
Medical advancements, such as vaccines, antibiotics, and improved surgical techniques, have significantly improved public health and increased life expectancy. These breakthroughs not only saved lives but also led to increased productivity and economic stability.
Computers: Automation and Digital Revolution (Timeline: 20th Century)
The invention of computers and subsequent advancements in computing technology revolutionized the way we work, communicate, and process information. Automation, data analysis, and improved efficiency in various sectors led to increased productivity and the emergence of new industries.
The Internet: Global Connectivity (Timeline: Late 20th Century)
The internet, a transformative invention of the late 20th century, connected the world in an unprecedented manner. It facilitated the exchange of information, enabled e-commerce, and transformed communication. The internet played a pivotal role in the emergence of new business models and industries, driving market growth.
Smartphones: Empowering Connectivity (Timeline: 21st Century)
Smartphones revolutionized the way we access information, communicate, and interact with the world. These handheld devices amalgamated various technologies, such as internet connectivity, computing power, and applications, making them indispensable tools for personal and business use. The widespread adoption of smartphones led to significant advancements in mobile technology and transformed industries such as e-commerce, social media, and digital entertainment.
Artificial Intelligence (AI): Shaping the Future (Timeline: Present)
Artificial intelligence has emerged as a game-changer in recent years, with applications spanning across industries. AI algorithms and machine learning techniques are driving automation, data analysis, and predictive capabilities, enhancing productivity and enabling the development of innovative solutions. AI continues to revolutionize industries such as writing, coding, finance, security, manufacturing, and transportation, driving market growth and shaping the future of various sectors.
Throughout history, transformative inventions and advancements have played crucial roles in shaping the market landscape. The S&P Composite index serves as a valuable tool to gauge market performance and track these cycles over time. By analyzing the historical movements of the index, we can observe the repetitive pattern of prolonged Economic Growth, typically spanning around 30-20 years. During this phase, the market experiences upward trends driven by innovation, increasing productivity, and expanding global trade.
However, it is important to recognize that these periods of growth are not indefinite. As history has shown, there comes a point when the market enters a phase of Downturn or Sideways movement, lasting approximately 15-10 years. This phase is characterized by market corrections, global wars, economic recessions, or periods of depression, where the market may exhibit increased volatility and limited overall growth.
Sincerely
Artem Shevelev
Trend until 2025? Bitcoin BLX macro trendlines and FibsAll lines are cloned from the orange trendline and seem to give nice medium- and long term support/resistance orientation.
Fibs in Log mode.
I guess, that in the coming months and years until my 4-year cycle target zone in Q4 2025, we might break below the lowest trendline in this chart.
Then, a new clone of the trendline might be applied.
"Happy Zone" end 2025 indicated :-)
QRTEA, another cyclical peak?Since 2015 this stock has reached a peak every 3 years approximately, as it happened in 2018 and 2021, this time it could happen again around mid 2024 as the price has plumbed drastically, reaching an all-time low.
If this is true, then price could be around 7 to 10 dollars during 2024. If "Project Athens" is succcesfful and the company is able to regain profitability, generate cash, keep good levels of revenues and make a sound transition to streaming and ecommerce, then this stock could recover and gain a strong terrain as before.
How long do you think this downtrend will continue?
LINK - 4 Phases YOU Should Know 📉Hi Traders, Investors and Speculators of the Charts 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
The markets are currently taking a breather after upside price action and this is typically where we expect altcoins to shine. Chainlink is particularly interesting to watch at this point since it has been trading range for an extended period of time. This is bullish according to the Wyckoff Method Analysis and other market cycle- or phase analysis'. This chart presents an easy guide to market cycles considering the moving averages and the macro perspective. Can you guess what phase we are currently in and what comes next? 🔥
Here's another altcoin with great upside potential that you may not have heard of : Shirtium
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CryptoCheck
Bitcoin -> The Final DropHello Traders,
welcome to this free and educational multi-timeframe technical analysis .
On the weekly timeframe you can see that Bitcoin just recently perfectly created and also already confirmed a quite nice inverted head and shoulders with the neckline being exactly at the $25000 area.
From a weekly perspective everything seems quite bullish overall so I am now just waiting for a retest of the neckline before I then do expect the next push towards the upside.
On the daily timeframe you can see that over the past couple of days Bitcoin has just been trading in a sideways range so I am also on the daily timeframe waiting for a retest of the $25000 area and then the next impulse towards the upside.
Thank you for watching and I will see you tomorrow!
You can also check out my previous analysis of this asset:
The Realest Post You Will Read All YearWhy you should care to listen to this.
I first discovered crypto in 2013, but my initial encounter with Bitcoin dates back to 2009. At the time, I dismissed a considerable amount of Bitcoin as a trivial payment for a World of Warcraft private game server admin position. However, in 2011, I was reintroduced to Bitcoin and purchased a significant amount for $10. Unfortunately, after losing my father and misplacing the hard drive containing my Bitcoin during his eviction, I was filled with regret by 2013. Now, I can look back and laugh at those experiences, as they led me to see a much bigger picture. Bitcoin operates in cycles, and it's easy to get caught up in the present moment, listening to influencers claiming that it's all over for the sake of views on their channels. I'm here to explain the true nature of the market, hoping to provide you with a sense of clarity and liberation.
A few years ago, Warren Buffet's quote, "Buy when there's blood in the streets, even if the blood is your own," was as ubiquitous as the definition of insanity. Despite its overuse, the quote held true. However, when faced with reality, people still tend to act on fear. Market cycles are influenced by fear, as seen in the news, lunar cycles, and retrogrades' gravitational waves. It is fascinating how the market operates based on these factors.
There are two fundamental human emotions: fear and love. Everything can be traced back to these emotions in one way or another. Our minds are wired to respond strongly to fear, which is why our reality often revolves around it. Trading on higher timeframes can be easier for some because it doesn't require constant attention to the cyclical nature of the market.
I have previously mentioned that this recurring cycle will happen once more before the market undergoes a significant change. Currently, there is widespread fear of banks failing, but if we look at history, such events were never anticipated. The 2008 crash began just after reaching all-time highs.
In the market, traders often encounter psychological tactics employed by market makers to influence their actions. Emotionless trading is essential to navigate these tactics. By utilizing basic technical analysis one can anticipate market movements, as demonstrated in my earlier idea from last year (I will link to it for reference).
Many people in the market cannot afford to trade their $100 or $1000, but they would fare better if they identified promising opportunities and left their investments to grow while they worked on increasing their account balance. High-margin trading, is akin to gambling. I have lost significant amounts in high-margin trades, watching the market move to my liquidation point on one exchange while others remained unaffected.
It's crucial to understand that long-term investing generates wealth. Allocating 10% of your total balance to promising altcoins is a wise strategy. Focus on consistently investing in cryptocurrencies and stocks while working hard, and you'll see success. Betting on the unlikely scenario of the US dollar failing and causing societal collapse isn't productive.
I predict that Bitcoin will experience an upward wave for a few months, followed by a retracement of that wave, and then gradually work its way up to all-time highs, just like in previous cycles. This may be difficult to visualize amid the world's turmoil, but adopting a month-by-month approach rather than an hour-by-hour one can provide clarity.
Stay resilient and maintain a clear mind. You can't turn $100 into a million dollars in two days. Instead, work hard, save, and invest gradually in the market. The best advice is to earn $10,000 to $100,000 from the market and then start your own business.
Remember, this is just my opinion, and I hope it helps. Bitcoin has repeatedly defied predictions of continuous decline. While it's possible we could see a drop to $12,000 - $13,000 due to a black swan event, similar to March 2020, it's not worth waiting idly for that moment. Choose the long route; your life will still be here in two years, and impulsively risking everything won't bring lasting change.
If you're interested in learning how to trade like a pro and want access to unique tools, visit my website, as mentioned in the description. If you trade NASDAQ futures, you'll be thrilled with our recent release.
Take care and remember to invest wisely, focusing on long-term growth rather than seeking immediate results. Slowly add to your investments with each paycheck, and avoid waiting for the "perfect" price. If you listen to anything I have to say, remember this: the right time to start investing is now.
How to execute good DCA strategyINDEX:BTCUSD
DCA is a very good strategy to invest into "future" like bluechip or bitcoin/ethereum. However, one of biggest problem of DCA is "too soon" DCA period.
This chart shows you how to archive good DCA from the beginning using cyclic indicator based on dominant cycle idea.