seventhcandle

seventhcandle

I've been analyzing BTCUSD on the 5D and it looks like it is topping out right now and we are heading down in a sustained way very soon. I printed a logarithmic regression channel with 2 SD either way and we are at the top of the channel. Wave trend analysis shows we are overbought and unlikely to make it to the 0.786 FIB level ($50k). You can also see...

seventhcandle

I've been analyzing BTCUSD on the 5D and it looks like it is topping out right now and we are heading down in a sustained way very soon. I printed a logarithmic regression channel with 2 SD either way and we are at the top of the channel. Wave trend analysis shows we are overbought and unlikely to make it to the 0.786 FIB level ($50k). You can also see...

seventhcandle

Here is the projected path for BTC if we get a recession by the SPX in Dec 2024.

seventhcandle

Notice the series of lower highs for the white ADX and green DI pointing to an early cycle top in late 2024 or early 2025.

seventhcandle

This represents a long-term trendline that acts as significant support and resistance for BTC cycles that shows we are likely to get rejected from it late next year, corresponding to a cycle top between $75-85k. Steve at Crypto Crew University inspired this idea.

seventhcandle

I charted out a path for BTC over the next few years based on using the previous cycle support zone as resistance for the next cycle. Looks like BTC can hit between $270-$280k on the next market cycle top if these lines are fit correctly and we do not get a recession to knock us down in a meaningful way between now and then.