Most recent sell off is reminiscent of the FTX dump late 2022.. similar volume sell off/liquidation cascade...
Almost every popular "trader" on twitter calling for lower prices, which could very well happen.
I see two scenarios.. the fractal outlined on the chart where price chops sideways towards Q4 then spikes higher and finally breaks out of the multi year downtrend channel..
OR.. Scenario two:
Price mean-reverts to fill the CME gap around 27-28k area, then nukes to fill the gap around 21-22k (also the golden pocket), before another leg up.
Below:
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Gap Filled above Positive news - SEC lost against greyscale.
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Following quite closely so far
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o.O
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Following the fractal quite closely.. Expecting 36k this year
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Wow, god candle on fake ETF news.. still on track
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Going great
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Still on track!!
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Target reached on Bitcoin Futures (36,000)
Almost there on Spot..
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36,760$ will hit before any real correction in my opinion
Nice pattern, we like your chart!! Keep it up champ)
marcolopes
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Not... 45k is NOT the TOP. New ATH or near (end of the year rally), before a big correction (and then it will depend on the approval of the ETFs)
Andy_D
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@marcolopes, you speak with so much certainty.. as much as I would like for up only, this is very unrealistic. ETF is already being priced in, what do you think helped fuel this rally?
marcolopes
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@Andy_D, Sure, but there is a lot of manipulation, as usual. This big drop was expected (typical short and long squeezes). I will keep my plan: a Christmas rally (and, when everyone is still numb with holidays and new year celebrations - the real correction will start). but this is just me, analyzing human psychology!
Andy_D
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@marcolopes, you do you, stick to your plan, I will stick to mine.. It's a zero sum game as always.. it's me versus everyone else .. you either take my money or I take yours, as bad as it sounds
Slanina7
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. @marcolopes I think our high will occur this weekend. Then a small correction sub 40k. 39ish. Next is a rally to 61300. Followed by a massive drop until March to low 30s along with SPY. Right around halving. Then the real rally begins to 100k+