Hi everyone.
Bitcoin is at the middle range.
If it losses this level, a retest is coming.
The consolidation after the sell-off in June looks like the beginning of a classic Accumulation-Manipulation-Expansion type move.
I think we have seen the manipulation already happening with the push towards 22k.
Now we are moments away to see the final move down to 16.8k.
Also CPI data is announced later this week.
Last two times we have seen 20-25% drops occurring after new ATH inflation levels were announced.
This time will be no different
From this level I expect Bitcoin to start a new uptrend.
We have seen people wait for 11k, but I think it will not get there in one go.
A reversal to 28-30k in August, before a continuation to the downside seems more probable to me.
If you found the idea interesting, let me know your thoughts!
Toni
Bitcoin is at the middle range.
If it losses this level, a retest is coming.
The consolidation after the sell-off in June looks like the beginning of a classic Accumulation-Manipulation-Expansion type move.
I think we have seen the manipulation already happening with the push towards 22k.
Now we are moments away to see the final move down to 16.8k.
Also CPI data is announced later this week.
Last two times we have seen 20-25% drops occurring after new ATH inflation levels were announced.
This time will be no different
From this level I expect Bitcoin to start a new uptrend.
We have seen people wait for 11k, but I think it will not get there in one go.
A reversal to 28-30k in August, before a continuation to the downside seems more probable to me.
If you found the idea interesting, let me know your thoughts!
Toni
King