Bitcoin and cryptocurrency bear market?
Updated
This is certainly not the first time he has seen such an idea.
I wanted to make my own idea.
Please take a look at an earlier idea as well.
There are two strong buying zones. (Gray zone.)
I think the market is testing lower levels.
Be sure to share your own thoughts with me.
This is not investment advice.
I wanted to make my own idea.
Please take a look at an earlier idea as well.
There are two strong buying zones. (Gray zone.)
I think the market is testing lower levels.
Be sure to share your own thoughts with me.
This is not investment advice.
Note
25401 :)Note
23300 :)Note
22600 :)Note
21460 :)Trade closed: target reached
I achieved my first important goal. :) Thank you.Note
So far, the exchange rate seems to be moving as I expected. In the coming days, it is very important to maintain the 20,000-dollar level and go beyond the 25,000-dollar level. If that happens, the next very strong resistance is $30-32k. If the price of bitcoin reaches the level of 30-32 thousand dollars, then, in my opinion, there will be a lot of selling pressure on the price.I expect this event from April to June. It is extremely difficult to make predictions in such an economic environment.
Note
If everything goes according to the trends so far, we will be able to start the year 2024 in a more favorable interest rate environment. And the end of 2024 and the beginning of 2025 may show us a new all-time high in the exchange rate. I do not consider it impossible that the exchange rate will reach the level of 182-192 thousand dollars within 2 years.Note
We also reached my 2nd long-term goal. Now the big question is what will be the next step. In my opinion, the maximum price we can see for a while is 32k. After that we should go back to find and build lower supports. 20k-25k is not an unimaginable goal for me at all.Note
Nice move in box :) What the next? I think maximum level 32k. And go retest lower level. ~20-25k .Note
The retest of the $25,000 level was nicely done and $31,500 was the maximum level we saw so far. That's what I expected until now. I'm a bit confused at the moment, because I can't rule out the $20,000 level. And it's hard for me to imagine amounts above the $35,000 level this year.I give a higher probability that we will go below 25 thousand dollars this year. I expect a significant summit decision only in 2024. In my opinion, the first serious levels (38,000, 48,000...) can only be reached next year. There are many questions now. An unexpected development can come at any time, which upsets my previous ideas. (Although since 2021, things have been going quite well so far. According to plans. )
If you like my idea, which I have been updating since 2021, don't forget to share them with others. I don't expect rewards for my work. But I really appreciate your support.
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Now, as long as the situation is so uncertain, I will definitely be watching the events from the coastline. Because we are in a region where it is dangerous to open positions in any direction. Persistently above 32k, I'm thinking about higher levels. And permanently under $25,000, we should expect to revisit $20,000. (In a very extreme case, the exchange rate between 10,000 and 15,000 dollars is conceivable, BUT at the moment I see a very small chance of this.)Note
Things have been going quite well in the last ~1.5 years. Now the exchange rate is moving at a strong support level and I wouldn't be surprised if we went up. BUT you definitely have to watch the reactions patiently, since things in the world economy haven't changed a thing. And things around Binance could give an unfavorable direction to the entire cryptocurrency sector if the court rejects Binance's requests and favors the SEC. I have positions in many cryptocurrencies at the best rates. But I haven't invested my entire capital yet and probably won't. After all, it is ALWAYS important to have a reserve that we can move.Note
Well, as I mentioned in my last comments, we can expect a sideways market between the exchange rate of $25,000 and $32,000 for a while. I think the market is waiting for Bitcoin Spot ETF decisions due in the near future. I do not want to take a position on this, because it is difficult to think with the heads of the SEC decision-makers.I am confident that we will have some surprising twists and turns and all the Spot ETFs will be approved in the future, because it means that the price will go up like a rocket in the entire crypto market. As we saw with a 5-minute fake news. (Only in the case of real news, if the entire media is full of news, we can witness a much more intense movement.)
In my opinion, the market is now in a wait-and-see mode. Until then, as I said, above 32k is bullish. Bearish below 25k. It is neutral between the two. (I already have positions in altcoins, which I bought at a very good price.)
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And please forgive me if the graph is not 100% accurate in the end. I first shared this thought over a year ago. It is understandable that I am not a visionary who plans the exchange rate several years in advance and everything will happen 100% like that.That's why I keep updating the graph. Because things happen that I didn't think about before and it might change the forecasts. <3
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