Bitcoin idea for the August - Fall 2024
pulling fibbs from 222 days box in the bottom, which become fair value area, this is from where bitcoin was pumping hard for 300 days ( till today), there is another fair value area, below the current one. the GP of the fibbs are in confluence with previous zone volume profile, that gives me idea, that if price enters the mid box, it will visit this high node at 42500. which is in confluence with low leverage longs liquidations 1.5X-3X since the beginning of the year. this drop might bring either local bear market for few months, or some crazy V shape bounce and shoot towards new ATH. the market is not in the best condition around the world to make it a nice bull run, the market wants to take money and large liquidity is below. Fundamentals: greed corps will do anything to scare you to take your bitcoins and buy them, remember: you working for currency they print from thin air and they got it so much, that they can buy 21M bitcoins for the price of 11M/BTC, they will not stop buying everything in the world, just to have it and to control it. They are not your friends, M. Saylor is not your friend, bc he own bitoins and knows how to speak, he actually part of the market who buy it from you, when you sell it. the volume profile has two large nodes: 42500 and 27500. Everything can happen, be ready, at the end, bitcoin is a black hole, which will suck in the whole economy and finance.
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