Bitcoin Market State - October 2023

Following my previous update in June 2022, Bitcoin has indeed carried out most of the dead cat bounce that I've been expecting. Granted, it took longer than I thought, but the levels are still valid.

This is just an update that we are indeed on track with the plan, anticipating to enter the 35k-37k price zone before the bear market continues.

This zone is a strong psychological pivot, as many bear ideas become invalidated, and may bull ideas become confirmed. As some would call it, a max-pain scenario for a top.

Following that, my analysis suggests that we will be seeing much lower prices before 2025.

Currently I am targeting $8,800 and $5,555 for accumulation zones.

Comment:

The Bullish Target has now been reached as planned. Expecting some weeks of a topping formation, potentially deviating a bit higher.

However eventually we will start seeing bearish acceleration to the targets mentioned above.