BTC - NEW YEARLY CYCLE JUST BEGAN TO REACH THE REAL TOP?
Despite the fact that to be fairly sure we should wait to be outside the retracement area 42-51k, we can say that the probability the answer is YES are much higher now.
Until 51 is not broken, we can not be sure that we are out of the B scenario on the chart, which however, is much less likely.
Indeed, the price is following the projections made 2 months ago and still on the chart. What the chart is telling us is that we are above the previous top of 12 June and we broke the resistence at 42k. Also, the reaction we had on the POC (that was broken only with a false breakout) testifies the huge demand for BTC at 30k, which is then considered a cheap price by traders.
As per the last ideas (see the links below), the yearly cycle close is over and we are most likely in a new bullish yearly cycle, which will be the last one to reach the real top of this halving cycle (2020-2024).
Until 51 is not broken, we can not be sure that we are out of the B scenario on the chart, which however, is much less likely.
Indeed, the price is following the projections made 2 months ago and still on the chart. What the chart is telling us is that we are above the previous top of 12 June and we broke the resistence at 42k. Also, the reaction we had on the POC (that was broken only with a false breakout) testifies the huge demand for BTC at 30k, which is then considered a cheap price by traders.
As per the last ideas (see the links below), the yearly cycle close is over and we are most likely in a new bullish yearly cycle, which will be the last one to reach the real top of this halving cycle (2020-2024).
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