Bitcoin - End of Corrective Wave?

17 thg 6

Unless BTC has enough steam to surpass the RSI of 2021, if not this bull run from 15k is still suspect. Possible multi-year complex correction ahead.

This is just based on wave analysis TA. I do not consider other BTC data like halving, network effects, cycles, etc in this analysis because I believe that price goes where it wants to go and those are just data to propel it.

17 thg 6

Ghi chú

Look at the inverted chart on Weekly and consider if this looks like a deviation and "buy" area.

24 thg 6

Ghi chú

BTC closed the week below the 2 highs of 2021.
Price already printed a double top.
Almost no wick below indicates no buyers near weekly close.

24 thg 6

Ghi chú

Price is somewhere around the same percentage rise of the previous cycle.

What if price topped early?

Those expecting the bull run to continue to 2025 at 100k is looking for a 600% rise. Ask yourself if it is realistic.

8 thg 7

Ghi chú

Bearish so far. If price consolidates around this area, then more downside is likely to follow.

13 thg 8

Ghi chú

Just posting two charts showing past and present. Don't hope.