Bitcoin /USD rate (January 2022)
Here’s the alternative wave, pattern, and Fibonacci setup that I could expect as I noted in my last chart.
You may notice the moving average technical indicators are starting to converge on $52k-$54k price levels max here in a 4 hour candle view.
If this idea turns out to be closer to truth opposed to the other bullish charts I have published considering prices of $74k-$84k, I expect a price floor could come much sooner than I had previously expected and maybe even lower. $7k price floor seems like most likely but it could be anywhere around there.
If this chart truly shows us what to expect, then there could be one more price move to $52k around April/May 2022 before doom around July 2022. The first major price target downwards would be around $24k if that's the case.
To be explicit: I believe peaks and lows that will be achieved from now until mid/late 2023 are:
Low: $6,580 (+-25%)
High: $52,043 (+4%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin and cryptos in general at the moment. I don’t want to change my mind which sounds crazy right now.
Previous charts I've built coming to these conclusions:
Here’s the alternative wave, pattern, and Fibonacci setup that I could expect as I noted in my last chart.
You may notice the moving average technical indicators are starting to converge on $52k-$54k price levels max here in a 4 hour candle view.
If this idea turns out to be closer to truth opposed to the other bullish charts I have published considering prices of $74k-$84k, I expect a price floor could come much sooner than I had previously expected and maybe even lower. $7k price floor seems like most likely but it could be anywhere around there.
If this chart truly shows us what to expect, then there could be one more price move to $52k around April/May 2022 before doom around July 2022. The first major price target downwards would be around $24k if that's the case.
To be explicit: I believe peaks and lows that will be achieved from now until mid/late 2023 are:
Low: $6,580 (+-25%)
High: $52,043 (+4%)
This could be wrong but I’m just documenting my ideas now so I can attempt to see where I went wrong in the future. I have said it often recently but I will keep saying it, I am biased towards being bearish on bitcoin and cryptos in general at the moment. I don’t want to change my mind which sounds crazy right now.
Previous charts I've built coming to these conclusions:
