This is the last analysis's weekly time frame chart.
Everything is clarified in the chart you can see upgoing and downgoing cycles after every bitcoin halving.
RSI had a downward breakout the red RSI trend line named T1 and pull backed to it in the weekly timeframe where you can see a little red rectangle and arrow there. The continuation of the RSI path is probably like the blue line drawn named R1.
About the BTC price, I am expecting the price to reach 14500 - 19000 dollars until Dec 2022. of course, it can reach that target a few months earlier or late.
Note that before Halving 2024 bitcoin will not have ATH. It means before Apr 2024 bitcoins price will be under the 69000 and even maybe 50000 dollars. After that time the price will go to 120000 dollars.
Do not forget that the trend of the bitcoin and crypto market is still downward and bearish.
You can see my idea about this analysis in a monthly time frame in another published idea on my profile page.
Everything is clarified in the chart you can see upgoing and downgoing cycles after every bitcoin halving.
RSI had a downward breakout the red RSI trend line named T1 and pull backed to it in the weekly timeframe where you can see a little red rectangle and arrow there. The continuation of the RSI path is probably like the blue line drawn named R1.
About the BTC price, I am expecting the price to reach 14500 - 19000 dollars until Dec 2022. of course, it can reach that target a few months earlier or late.
Note that before Halving 2024 bitcoin will not have ATH. It means before Apr 2024 bitcoins price will be under the 69000 and even maybe 50000 dollars. After that time the price will go to 120000 dollars.
Do not forget that the trend of the bitcoin and crypto market is still downward and bearish.
You can see my idea about this analysis in a monthly time frame in another published idea on my profile page.
