The bear market journey
Sticking to my earlier analysis this is what I am able to see for bitcoin
Analysis is based on 50/200 MA in 1 day 3 day weekly and monthly chart, support and resistance Elliot waves theory.
I have been bearish on bitcoin since the 3 month close when it formed a inverted hammer candle which was the also a confirmation for reversal and then rejection from 50 ma in weekly chart confirmed the bear market.
I am able to analyse that this bear run will be a short one as this is also the 4 th sub deca cycle wave which happens to be steep and fast also the bearish divergence in monthly is also a sign for that.
I believe we will start the final leg of bull in November or December this year which will continue till 2024 to 2025 and top out around 200k level which almost 2.8x or current top as we have been forming tops in descending multiple since 2013.
The 2025 top will also coincide with the global political and economic plans as we are on the verge of war which will continue for atleast 2 years and would require a transfer of value for war requirements and that can in this times be supported by only 3 assets gold bitcoin and dollars thus I am bullish on these 3 and bearish on indexes till 2025
Analysis is based on 50/200 MA in 1 day 3 day weekly and monthly chart, support and resistance Elliot waves theory.
I have been bearish on bitcoin since the 3 month close when it formed a inverted hammer candle which was the also a confirmation for reversal and then rejection from 50 ma in weekly chart confirmed the bear market.
I am able to analyse that this bear run will be a short one as this is also the 4 th sub deca cycle wave which happens to be steep and fast also the bearish divergence in monthly is also a sign for that.
I believe we will start the final leg of bull in November or December this year which will continue till 2024 to 2025 and top out around 200k level which almost 2.8x or current top as we have been forming tops in descending multiple since 2013.
The 2025 top will also coincide with the global political and economic plans as we are on the verge of war which will continue for atleast 2 years and would require a transfer of value for war requirements and that can in this times be supported by only 3 assets gold bitcoin and dollars thus I am bullish on these 3 and bearish on indexes till 2025
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