Its a very important time for Bitcoin in my opinion , within the next 8-10days we will get a large move above or below the 1/1 Gann , for weeks now we have been holding just under it.
Here is a zoomed in view on the daily.
As you can see we reach this apex 24th of August 2023 , of course its also possible we trickle sideways above the 1/1 but historically breaking the 1/1 on Bitcoin during this part of the cycle we get some type of action.
2015
If we go back and take a look on how price reacted to the 1/1 we can see a lot of violent swings ranging from 25-40%.
2019
This year was had way more reactions to the 1/1 and almost everytime it resulted in fairly large swings , this time ranging 45-60%.
2023
So for this year we have touched 1/1 once and it was the local high of the year , candle closed right on it.
2/1 Gann and Time
The bull market doesn't start until we break and hold support the 2/1 , the last two cycles it has taken about the same time 640days .
So if it repeats Bitcoin would be somewhere around 36500 during this period.
We also know it takes about 750 days from cycle low to reach previous cycle high.
So that would be Bitcoin back at 69k sometime in December 2024.
Conclusion
If the cycle repeats the Bull market will start sometime August 2024 at 36500 and Bitcoin will reach previous cycle high at 69k December 2024 which would then make a new cycle high October 2025.
Here is a zoomed in view on the daily.
As you can see we reach this apex 24th of August 2023 , of course its also possible we trickle sideways above the 1/1 but historically breaking the 1/1 on Bitcoin during this part of the cycle we get some type of action.
2015
If we go back and take a look on how price reacted to the 1/1 we can see a lot of violent swings ranging from 25-40%.
2019
This year was had way more reactions to the 1/1 and almost everytime it resulted in fairly large swings , this time ranging 45-60%.
2023
So for this year we have touched 1/1 once and it was the local high of the year , candle closed right on it.
2/1 Gann and Time
The bull market doesn't start until we break and hold support the 2/1 , the last two cycles it has taken about the same time 640days .
So if it repeats Bitcoin would be somewhere around 36500 during this period.
We also know it takes about 750 days from cycle low to reach previous cycle high.
So that would be Bitcoin back at 69k sometime in December 2024.
Conclusion
If the cycle repeats the Bull market will start sometime August 2024 at 36500 and Bitcoin will reach previous cycle high at 69k December 2024 which would then make a new cycle high October 2025.
Ghi chú
Ghi chú
wow hash ribbon buy flashed , my alarms expired missed this one , crazy we got a buy 
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.