BTC long-term: POTENTIAL SCENARIO!!
Updated
Hi guys, This is CryptoMojo, One of the most active trading view authors and fastest-growing communities.
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as FINANCIAL ADVICE.
#BTC LONG-TERM UPDATE:
BTC took a massive dip of about 85% again to reach a new bottom within a duration of about 396days (About 1 Year) of Bear market. The drop ended in the month of January 2019 which make the January to be a special month from my research.
After, the achieved bottom of 3081$ in January 2019, Bitcoin price begins to rally for a new ATH again, which break the previous high. This rally so far had taken about 1035days (2yrs, 8months) with a fresh ATH of 69270$. This ATH was achieved in November 2021.
This was one of the reasons why fear entered the market and the price entered a downward trend
In the third cycle, the price enters an upward trend. Banks and institutions intensively buy. Finally, the price grows by about 130% during the two ascending swings and forms a new ATH. Finally, buyers tend to buy in the range of 60,000 to 68,000. The dollar is completely lost, and organizations and institutions try to save profits and exit their transactions with a profit. Eventually, the price falls and continues to fall for a period of up to $ 33,000.
Buyers see the price range as an opportunity to invest and buy for a short time. The war between Russia and Ukraine has been going on for nearly 7 months, plunging the entire financial market into fear. Secured assets, such as gold or oil , are why we are seeing them grow these days
In general, I do not see good conditions for risky financial markets. On the other hand, the price is currently moving within a trading range, which is also a sign of the end of the downtrend and the beginning of a new cycle.
If the price wants to move as it did in the past, we should see an increase in the price of bitcoin in the coming days.
Next ATH is expected to happen in the next 2years within November to December 2024.
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Do consider following me for the latest updates and Long /Short calls on almost every exchange.
I post short mid and long-term trade setups too.
Let’s get to the chart!
I have tried my best to bring the best possible outcome in this chart, Do not consider it as FINANCIAL ADVICE.
#BTC LONG-TERM UPDATE:
BTC took a massive dip of about 85% again to reach a new bottom within a duration of about 396days (About 1 Year) of Bear market. The drop ended in the month of January 2019 which make the January to be a special month from my research.
After, the achieved bottom of 3081$ in January 2019, Bitcoin price begins to rally for a new ATH again, which break the previous high. This rally so far had taken about 1035days (2yrs, 8months) with a fresh ATH of 69270$. This ATH was achieved in November 2021.
This was one of the reasons why fear entered the market and the price entered a downward trend
In the third cycle, the price enters an upward trend. Banks and institutions intensively buy. Finally, the price grows by about 130% during the two ascending swings and forms a new ATH. Finally, buyers tend to buy in the range of 60,000 to 68,000. The dollar is completely lost, and organizations and institutions try to save profits and exit their transactions with a profit. Eventually, the price falls and continues to fall for a period of up to $ 33,000.
Buyers see the price range as an opportunity to invest and buy for a short time. The war between Russia and Ukraine has been going on for nearly 7 months, plunging the entire financial market into fear. Secured assets, such as gold or oil , are why we are seeing them grow these days
In general, I do not see good conditions for risky financial markets. On the other hand, the price is currently moving within a trading range, which is also a sign of the end of the downtrend and the beginning of a new cycle.
If the price wants to move as it did in the past, we should see an increase in the price of bitcoin in the coming days.
Next ATH is expected to happen in the next 2years within November to December 2024.
This chart is likely to help you in making better trade decisions if it did consider upvoting this chart.
Would also love to know your charts and views in the comment section.
Thank you
Note
#BTC/USDT UPDATE
BTC did a decent bounce and currently, it is trading below the horizontal resistance.
So let's see if it will be able to break this level or if it will get rejected.
If it breaks this horizontal resistance then as expected it will rally towards the 23.3k level.
In case it got rejected it can drop up to $19700 but we have 100ma as support.
Stay tuned and pin our channel at the top.
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