Hello my friends.
In this analysis i wanna talk about the macro view of bitcoin. As you already know, it has been almost a year since we are in the bear market. BTC has already dumped around 75% from the ATH.
As you can see in the chart, btc is in the long term consolidation area. in this area which could take at least 1 year, btc will perform a lot of swing waves. (the same happened between 2018 to 2020).
In this consolidation area btc can swing between 35-40k as a top and 12-14k as a very bottom. Also i think a new LOWER LOW will happen at some points in 2023 where btc can touch 12 - 14k area as a bottom of the bear cycle.
I expect a new mega bullrun is expected to start in mid to late 2024. The target for next bullrun peak is estimated to be around 150-200k area.
In summary, btc has a lot on its way until the bear market ends. the consolidation time can take less than 2 years to finish. I think in 2023 btc will not perform any huge moves as it is in a consolidation zone. with 35k-40k as top and 12k-14k as a very low.
Also you can see all precise and accurate charting above where i showed everything clearly.
CHEERS
In this analysis i wanna talk about the macro view of bitcoin. As you already know, it has been almost a year since we are in the bear market. BTC has already dumped around 75% from the ATH.
As you can see in the chart, btc is in the long term consolidation area. in this area which could take at least 1 year, btc will perform a lot of swing waves. (the same happened between 2018 to 2020).
In this consolidation area btc can swing between 35-40k as a top and 12-14k as a very bottom. Also i think a new LOWER LOW will happen at some points in 2023 where btc can touch 12 - 14k area as a bottom of the bear cycle.
I expect a new mega bullrun is expected to start in mid to late 2024. The target for next bullrun peak is estimated to be around 150-200k area.
In summary, btc has a lot on its way until the bear market ends. the consolidation time can take less than 2 years to finish. I think in 2023 btc will not perform any huge moves as it is in a consolidation zone. with 35k-40k as top and 12k-14k as a very low.
Also you can see all precise and accurate charting above where i showed everything clearly.
CHEERS