January-May 2022. Bitcoin 11,500. Then 8,100. Then 5,100$.
Lots going on here. Let me explain it easily, i color coded the support levels.
First off, the dashed lines. Those are the weekly support and weekly resistances of the 2017 bull run. They meet each other in april of 2022 at 5,100$. They are real supports. Legit rock solid supports.
Now, the white line is 11,5k. It is a major support/resistance on the weekly chart dating back 5 years. A major one.
The blue line is 8,100$. It is also a major support on the weekly chart dating back 5 years.
The yellow line is one of the most important lines in crypto too. It is 5,100/5,200$.
I used color coded arrows to show all the times each was support over the last 5 years.
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Now comes the crazy part. I copied the fractal of the 2020 bullrun. I flipped it upside down on the logarithmic chart on accident. Just for fun I decided to put it at 65k and see what it looked like. I looked at the chart and noticed 3 very brutal crashes. Well, I looked at the price points those crashes came to.
And...
Each of those 3 crashes crashes to a MAJOR MAJOR support line on the weekly chart.
11,500$ was a spot I was waiting to buy at. 8,100$ was a spot i considered too. Then... I noticed that 5,100$ happens at the spot where those two bold white dashed lines meet.
I decided to research 5,100$. I wanted to see what 5,100$ was. Was it a major support/resistance that I completely neglected to look at?
Well... Yes. Yes it was. 5,100$ was insanely important. When bitcoin fell below 5,100$ in november 2018 it created the crash to 3k.
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So... I think our January-May 2022 bear market will have 3 distinct crashes.
I think after we top out in our bullish area we are in over the next month or two (i think around 56,800$ at the moment)...
We crash to 11,500$. Then pop upwards a bit.
Then crash to 8,100$. Then pop upwards a bit.
Then crash to 5,100/5,200$. And that 5,100/5,200$ somewhere around april/beginning of may 2022 IS the bottom. And it's going to start a new bullrun.
It's going to start a new bullrun similar to march 2020. I no longer think we're long term going to start a super bear market. I now think 5100/5200$ holds as support and I think 2025 will bring the biggest bitcoin bullrun in history. Probably 300k in 2025.
First off, the dashed lines. Those are the weekly support and weekly resistances of the 2017 bull run. They meet each other in april of 2022 at 5,100$. They are real supports. Legit rock solid supports.
Now, the white line is 11,5k. It is a major support/resistance on the weekly chart dating back 5 years. A major one.
The blue line is 8,100$. It is also a major support on the weekly chart dating back 5 years.
The yellow line is one of the most important lines in crypto too. It is 5,100/5,200$.
I used color coded arrows to show all the times each was support over the last 5 years.
_______________________________________________________________________________________________
_______________________________________________________________________________________________
Now comes the crazy part. I copied the fractal of the 2020 bullrun. I flipped it upside down on the logarithmic chart on accident. Just for fun I decided to put it at 65k and see what it looked like. I looked at the chart and noticed 3 very brutal crashes. Well, I looked at the price points those crashes came to.
And...
Each of those 3 crashes crashes to a MAJOR MAJOR support line on the weekly chart.
11,500$ was a spot I was waiting to buy at. 8,100$ was a spot i considered too. Then... I noticed that 5,100$ happens at the spot where those two bold white dashed lines meet.
I decided to research 5,100$. I wanted to see what 5,100$ was. Was it a major support/resistance that I completely neglected to look at?
Well... Yes. Yes it was. 5,100$ was insanely important. When bitcoin fell below 5,100$ in november 2018 it created the crash to 3k.
_______________________________________________________________________________________________
_______________________________________________________________________________________________
So... I think our January-May 2022 bear market will have 3 distinct crashes.
I think after we top out in our bullish area we are in over the next month or two (i think around 56,800$ at the moment)...
We crash to 11,500$. Then pop upwards a bit.
Then crash to 8,100$. Then pop upwards a bit.
Then crash to 5,100/5,200$. And that 5,100/5,200$ somewhere around april/beginning of may 2022 IS the bottom. And it's going to start a new bullrun.
It's going to start a new bullrun similar to march 2020. I no longer think we're long term going to start a super bear market. I now think 5100/5200$ holds as support and I think 2025 will bring the biggest bitcoin bullrun in history. Probably 300k in 2025.