Bitcoin - Proof that we are in the bear market!
Updated
- This huge descending parallel channel (2021 - 2023) is proof that the price of Bitcoin is stuck in this bearish pattern and therefore in the bear market!
- It's a very secret pattern that absolutely no one talks about, so do not share it and keep it to yourself.
- The price of Bitcoin is heading to 25k and then to 20k to fill the CME unfilled GAP. But once the price reaches 20k, it will cause a big sell-off to 15k, with a potential waterfall to 10k. Of course we are not going to go down in a straight line; I believe there will be a lot of bounces on the way down.
- This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I post trade setups privately.
- What you want to do as an investor is buy the first batch of BTC at 16k and the second batch at 10500, and you are good to go for the next bull market.
- What you want to do as a high-leverage trader is exit all long positions if you do not want to get liquidated. You want to open a 20x long trade at 10200 instead and ride it to a new all-time high if you want to play with high leverage for some reason.
- We are going to find the bottom between October 2023 and January 2024.
- This parallel channel is a big deal, and apparently Bitcoin is in the bear market because of that.
- Let me know in the comment section if you are prepared for the big dump and if you are shorting Bitcoin or if you prefer to stay in USDT.
- Thank you, and for more ideas, hit "Like" and "Follow"!
Note
We have the same descending parallel channel on Ethereum. It's definitely strong resistance, and I am bearish. Not only because of this channel but also because of the Elliott Wave and fundamentals.Note
The major parallel channel is holding very well; it's respecting the trendline. It's a good analysis. Also, do your own research, and I hope you took my analysis into consideration!
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