Bitcoin Update 2023
The bitcoin market operates in repeating cycles, like clockwork. The left chart shows Bitcoin's performance in April 2019, after a significant increase, taking it out of a capitulation range. The right chart displays the current situation, and the strategy so far has been straightforward: just look at history. If the cycle repeats, we can expect a breakout in 10-15 days with a target of 35,000.
35,000 is a crucial level for multiple reasons, including being the 0.382 Fib and the highest CME gap. This level could potentially be the top of the relief rally, but it is expected that human emotion and FOMO will drive the price higher.
Mayer Multiple bands
The chart is clear , the cycle is repeating. We even formed a small base over the yellow band just like in 2019.
The only concern currently is the descending wedge in USDT on the daily, which could impact the move to the upside.
In a short time, Bitcoin is projected to reach the value of 35,000. The inclination to purchase, accompanied by an emotional disturbance in the abdomen, is commonly referred to as Fear of Missing Out (FOMO).
35,000 is a crucial level for multiple reasons, including being the 0.382 Fib and the highest CME gap. This level could potentially be the top of the relief rally, but it is expected that human emotion and FOMO will drive the price higher.
Mayer Multiple bands
The only concern currently is the descending wedge in USDT on the daily, which could impact the move to the upside.
In a short time, Bitcoin is projected to reach the value of 35,000. The inclination to purchase, accompanied by an emotional disturbance in the abdomen, is commonly referred to as Fear of Missing Out (FOMO).
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