BTCUSD: Long term signal is possible

IvanLabrie Updated   
๐Ÿš€ Exciting Times Ahead for Crypto! ๐Ÿš€

๐Ÿ” Unlock the Secrets: A Long-Term Cycle Unveiled! ๐Ÿ“Š

Today's action may have been a short squeeze, but the real story lies in the long term charts. Smart money has been strategically accumulating, waiting for the perfect moment to soar! ๐Ÿ“ˆ

๐Ÿ”ฎ October Signals a Potential Game-Changer! ๐Ÿ”ฎ

A range expansion bar in the 2M timeframe during October could be the spark that ignites a journey to new all-time highs!๐ŸŽฏ
This move could set off a trend signal in the two months per bar timeframe, with accumulation spanning from Nov '20 to Aug '23, implying a proportional move both in price and time. The details of how the trend would evolve will need to be continuously reassessed but this would be the first step ๐Ÿ“…

๐Ÿ›ค๏ธ A Path to New Heights! ๐Ÿ›ค๏ธ

After testing the 47k area, price would be poised for a breakout into new all-time highs, given enough time in this range. This could herald a continuation of the bullish cycle we last witnessed from 10k to 60-70k! ๐ŸŒŒ

Best of luck, and here's to exciting times ahead! ๐Ÿฅ‚


Ivan Labrie ๐ŸŒŸ

One thing to consider: by the time the halving occurs, roughly by May 2024, a lot of miners will be unprepared for prices under 57-70k, which might cause sell pressure to mount, keeping price suppressed temporarily.

I project it might take until July-August 2024 to trigger the long term trend signal I was estimating will happen.

My subscribers get timely alerts regarding positioning ofc.

Here's how BITO looks right now btw.

Not ideal but a viable alternative if you need exposure.

2M/3M trend signal popped...

A logical move is something reminiscent of the 2015 to 2017 run...

Back then, we also had massive capital flight out of China, and a rally starting in Gold which had bottomed out.

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