I have been going on for some months about end of June being the next "Bitcoin event". The secret is that every year Bitcoin has a major pivot point , only one a year , which dictates the momentum for months, until the next date in the time sequence.
Here I go over back in May and state end of June is the time period for the next sequence. The only problem here was atleast for me it was not clear which way it was going to swing , even up until last week it could have flipped either way , last year things where much clearer because momentum was heavily to the downside.
As you can see we are on the 0.618 on this time fib and the reaction has been massive , we could be printing one of the biggest weekly candles in a long-time. These "event periods" are not small moves by any means , targets from here would be 59k.
Why 59k ? well bump and run reversal pattern target is 59k , last cycle Bitcoin did the same thing and hit the technical target.
As you can see it hit 13.5k a near perfect technical target from throwback , so far we have do the same and if we reach the technical target it would 59k.
What is also interesting is my Elliot wave indicator which is pretty dam good and pinpointing waves is signalling that the target range is also 56-59k target range.
Which also lines up with the 8/1 Gann Fan which is hovering around that 59k area also and to finish off we have a perfect 8/1 gann fann rejection of the USDT dominance.
So in the end this "event period" was a pivot to the upside not to the downside it seems that way for now , lets see how the weekly and monthly close.
So the next big date April 2024 which lines up with the Bitcoin halving , this fib date is more for Chainlink but still gives clues on where Bitcoin would be .
Something to note here not expecting all time high till October 2025 period.
Here I go over back in May and state end of June is the time period for the next sequence. The only problem here was atleast for me it was not clear which way it was going to swing , even up until last week it could have flipped either way , last year things where much clearer because momentum was heavily to the downside.
As you can see we are on the 0.618 on this time fib and the reaction has been massive , we could be printing one of the biggest weekly candles in a long-time. These "event periods" are not small moves by any means , targets from here would be 59k.
Why 59k ? well bump and run reversal pattern target is 59k , last cycle Bitcoin did the same thing and hit the technical target.
As you can see it hit 13.5k a near perfect technical target from throwback , so far we have do the same and if we reach the technical target it would 59k.
What is also interesting is my Elliot wave indicator which is pretty dam good and pinpointing waves is signalling that the target range is also 56-59k target range.
Which also lines up with the 8/1 Gann Fan which is hovering around that 59k area also and to finish off we have a perfect 8/1 gann fann rejection of the USDT dominance.
So in the end this "event period" was a pivot to the upside not to the downside it seems that way for now , lets see how the weekly and monthly close.
So the next big date April 2024 which lines up with the Bitcoin halving , this fib date is more for Chainlink but still gives clues on where Bitcoin would be .
Something to note here not expecting all time high till October 2025 period.
Comment:
Correction - Not expecting all time high till November 2024 and new cycle high October 2025
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