Everyone has been talking about the next capitulation of BTC where price would be $15000, $10000 or even lower.
My model, as long as being valid (*), predicts that BTC might be very close to its current cycle's bottom.
BTC is struggling to close above $20000, the current resistance (also a psychological price level, electricity cost level or whatever). If failing, I think that BTC will revisit the "EL Line" quite fast to grab the liquidity in order to get back to the "210K Line", a base price level. The recovery (in mid-term) would not be a V-shaped one but a slow parabolic curve, like what happened in 2015.
This post is just to share with you my own analysis. It is not a financial advice. Good luck and take care!
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(*) the used model is invalid when BTC closes below the "EL Line" with in 1W candle.
My model, as long as being valid (*), predicts that BTC might be very close to its current cycle's bottom.
BTC is struggling to close above $20000, the current resistance (also a psychological price level, electricity cost level or whatever). If failing, I think that BTC will revisit the "EL Line" quite fast to grab the liquidity in order to get back to the "210K Line", a base price level. The recovery (in mid-term) would not be a V-shaped one but a slow parabolic curve, like what happened in 2015.
This post is just to share with you my own analysis. It is not a financial advice. Good luck and take care!
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(*) the used model is invalid when BTC closes below the "EL Line" with in 1W candle.
Comment:
As an illustration for the above comment, here is my view for the next moves of BTC
Let's see if BTC could break out or be rejected the next days