Possible Scenarios for starting the major Bull run
Updated
It's time to prepare for the next major BTC bull run.
We can analyze this from a couple of different perspectives
#1 From a monthly chart perspective, prices usually react strongly to trendlines. Right now, we're near a significant yellow trendline at 48k. If the price starts an uptrend as it has in the past, we could see it break through two channels and reach 105k, aligning with market expectations( just like move numbers 1 and 2 )
We can analyze this from a couple of different perspectives
#1 From a monthly chart perspective, prices usually react strongly to trendlines. Right now, we're near a significant yellow trendline at 48k. If the price starts an uptrend as it has in the past, we could see it break through two channels and reach 105k, aligning with market expectations( just like move numbers 1 and 2 )
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#2 From Elliot wave analysis we can see we are in wave 3 of 5 wave down, I think it's likely to see a bounce from 48k for a retest of the previous range low at 54k and the final wave 5 will go down to 45k ( then we might see some sort of ABC correction )
Note
#3 From Gan analysis we can see the end of the move is planned to happen before October ( which is usually a green month for BTC) and the final price is 42k , this is one of the possible Ganns out of many but I find this one the most accurate one
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Zoom-in view of gann to illustrate the point
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Zoomed-in view of monthly trendlines
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Seems like we are ending wave 4 which this time is a zigzag correction and 5-3-5 move, time for the final wave down, usually it's the same length as wave one and the target is 48500.
Trade active
Entering a short position near 66200 with stop loss at the psychological level of 67500, the target is 52500 and 48500
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