BTC/USD bowl. Breakthrough 64-72. Cyclicality. Nasdaq - BTC.Logarithm. Completion time 1 week. Instead of updating an old idea regarding the Nasdaq Index and BTS on pump cup formation published on 06/17/2023, I decided to implement the idea on a live chart.
Comparative analysis. Fractal. Lag. Bitcoin and Nasdaq
17 06 2023
I have applied the cup percentages as well as the cup with handle if formation occurs (high probability). Although the cycle high targets and timing are the same as what I showed in 2022 during the Bitcoin accumulation phase.
So, for clarity with the last cycle and its highs in 2021.
BTC/USD Secondary trend cycles and halvings . 1 07 2022
BTC/USD Halving 518 When will be the cycle price low and high.
02.09.2023
BTC/USD Main trend (3 years) Channels Triangle
09 2023
At the moment, the price is above the “demons of Solomon” zone, that is 72,000. Zone 64-72 – resistance of the large bowl (last cycle highs 64-69). Let's follow the fractal similarity of 2015-2017. There is a high probability that a rollback will occur slightly higher, and a long-term bullish formation will be formed (trend direction, large time frame) — “Bowl with handle”. Or straight to the psychological level of 100?).
Pay attention to interest rates and price levels in the past and now.
1️⃣ Let me remind you that in April the halving is closer to the 20th. Most likely this will happen on the day "18" . Do you think that bitCocaine will cost 84,018 closer to this time?) What will happen to this zone?
2️⃣ Psychological PR level - the zone for Bitcoin is $100,013.
3️⃣ Everything else probably looks unreal for most market participants, but what is shown now is real, just as it was a very long time ago.
Adhere to these simple rules:
1) Understand and exploit the cyclical nature of the market.
2) Buy low, sell high. And not vice versa like most).
3) Take profits in parts on the hype (now) in a growing trend or protect with a stop loss.
4) Have an understanding of the relationship between the liquidity (capitalization, roughly speaking) of a trading instrument and its volatility and potential.
5) If you trade locally. The crowd is shouting: “cryptocurrency is a scam” - buy it. “Crypto hype” - sell it.
6) Do not be interested in the news and the opinion of the majority, this is all “taken into account in the price movement schedule.”
7) Always have at least 20-30% of stablecoins in reserve. If, for example, in a developing trend there is a correction to quickly remove longs (futures, margin with large shoulders, in spot - stop loss) by a significant%, and some of your stops do not work due to price slippage, then a “cash airbag” will calm and warm you in such an unpleasant moment).