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I have tried my best to bring the best possible outcome to this chart, Do not consider financial advice.
#Bitcoin Long Term Technical Analysis:-
As Per the historical chart:-
As we can see in the chart first and second bear markets BTC drop -84 to -86% from the top and in this current bear market too we expect an 84% to 86% drop from the top.
If BTC drop according to the calculation then 10k to 11k will be the bottom
So in this bear market, we expect an 84% to 86% drop from the top
This chart is likely to help you make better trade decisions if it does consider upvoting it.
I would also love to know your charts and views in the comment section.
Thank you
Comment
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In this weekly time frame, BTC is trading inside this rising expanding triangle pattern and is currently at the lower level of this pattern.
Which is at 1428D Strong support BTC must hold this level. If BTC breaks down to this level then 11k to 12K is the next stopping point.
I am accumulating more and if we see more dips, I will buy more.
Your idea seems to be pretty accurate, We also have the same view, thank you.
JCLARK87
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Certainly possible. If inflation keeps going down and Fed pivots (unlikely imo), that is enough of a catalyst for 15500 to be the bottom. We could then either start a bull market, or trade sideways till 2024. Or, your outcome. It's a toss up.