Bitcoin (BTCUSD) is on the exact same spot that the 2022 Bear Cycle was before it's bottom. We've pointed that out a number of times in recent analyses that BTC's Final Flush is about to take place but there is no chart more descriptive than this.
As you can see, the 2022 Bear Cycle entered its final phase before the bottom right when BTC touched the Resistance from the previous All Time High (ATH) Cycle Top. An initial rally that followed (red Arc) was the final opportunity to sell it and after a short counter-trend consolidation (black ellipse), the Final Flush came that priced the market bottom (green Arc).
We are currently on that pre-flush consolidation ellipse and within then next weeks, we are expecting a strong sell-off. Most likely that will test the 1W MA350 (red trend-line), which is where the 2022 Cycle bottomed, around $50000. The closer that will be to October, the stronger the buy opportunity.
Do you also agree we are getting that close to a Cycle bottom? Feel free to let us know in the comments section below!
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As you can see, the 2022 Bear Cycle entered its final phase before the bottom right when BTC touched the Resistance from the previous All Time High (ATH) Cycle Top. An initial rally that followed (red Arc) was the final opportunity to sell it and after a short counter-trend consolidation (black ellipse), the Final Flush came that priced the market bottom (green Arc).
We are currently on that pre-flush consolidation ellipse and within then next weeks, we are expecting a strong sell-off. Most likely that will test the 1W MA350 (red trend-line), which is where the 2022 Cycle bottomed, around $50000. The closer that will be to October, the stronger the buy opportunity.
Do you also agree we are getting that close to a Cycle bottom? Feel free to let us know in the comments section below!
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.