According to the last analysis that I posted for Bitcoin, it seems to have chosen the bullish scenario this time , although it is not 100% confirmed yet and may have a rejection .
Today as always I'm gonna have another analysis for BITCOIN in a macro perspective , so lets get started!
as you can see on the Monthly timeframe , after 3 consecutive bearish monthly candlestick , this month bitcoin was able to have had a positive performance by now , almost more than 20% growth from current LOW. the price action pattern of current bearish trend for BTCUSD has proved us after 3 bearish candle it started to rise , thus now ,generally for 3 month ahead I expect a positive performance for BTC , which in this case it can maybe see the 50% of the recent long bearish candle 26.7 or even the higher resistance zone about 30k level in the short-mid term , and at the same time the rest of crypto market can follow btc subsequently .
but I think the bearish market hasn't finished ,and according to mirrored bars pattern given from past price actions , bitcoin can at least have another downtrend leg by end of the year or in the next year !
if I compare it to the previous crypto winter in years of 2018-19 after a massive fall it reached around the ' anchored Vwap line that was drawn from 2013's ATH, and after 5 month( nov 2018-mar 2019) Consolidation phase around this line started a bullish leg , Also you can see the last reaction Before starting of the recent upward rally of Bitcoin in 2020-2021, it kissed this line for the last time and began to grow historically to see 69k as a ATH .
Also for this time , I believe that bitcoin has not seen its bottom yet , and it'll touch the anchored vwap line drawn from 2018 ATH (~20K ) maybe after a temporary rising , and in a similar scenario after a few month consolidation can have a new rally in the long-term.
in my opinion the bottom for bitcoin is probably in the VG( volume gap ) zone or about 10k level as a worst case scenario.
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Then Bitcoin hits 30k and keeps going. Bears be like its not confirmed yet, strong resistance at 40k then we're definitely going down. God I love watching Bears miss the train.