were going to call bitcoin is already in near term bottom, since inflation is starting to go down and gas prices is also doing good from $7 to $4+
if things goes to plan then bitcoin can retest 17k-18k for capitulation before it goes to winter sideways for couple of months before
price will test 50k and take another deep somewhere 22k, and this will be the monthly historical double bottom of bitcoin,
before it goes to expansion somewhere in end of 2023, 8-6months before 2024 MAY HALVING, then the next bull cycle will begin.
for now we should very carefully look how recession will affect the BTC price, since we already see it from 2020 drop and how feds make the interest rates to 0,
so this time we think that feds wont do the same thing last 2020, when they put rates back to 0,
strong possible scenario this time is feds will still try to control the inflation even there's a mild recession, with this scenario we can say BTC can go to bottom and the beginning of long accumulation.
i will update this chart once we hit 17k-18k level.
just started ...