bitcoin prediction

A small idea on the trajection of btc.

Note

The rings seem to provide good support and resistance up until now. Once we cross the following ring I thus believe we can ride the current supporting ring up till 33000.

Note

Current resistance on the red line while keeping support on white ring. I see 3 scenarios:
- Support on the ring holds and resistance breaks: Price will track the white ring upwards till at least ~34000
- The resistance keeps holding and support breaks: fall back to next support on ~26500
- Both white support ring and red resistance line break: unclear result, possible sideways movement or upward movement following the ring. Slowly tracing upwards till ~37500

Note

Fall back to 26500 occurred.

I suspect the red resistance line to break next week after which we can rally to ~37500.

Theoretically, resistance can hold leading to further downfall to ~23600. This scenario seems however less likely to me as this would mean a stop to the current rising trend.

Note

Support circle broke. Next support will probably be found on the next circle. Depending on when this is reached this will be between 24000 and 25000.

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We're approaching the next support circle. According to this graph, the following scenarios seem possible:
- We ride the circle up to $37.000-38.000 before crossing.
- We cross and support on the red line holds leading to a possible climb to ~$40.000
- We cross and fall below the red support line leading to a drop to ~$27.000

Note

The third scenario occurred.
The Circle from the previous cycle Which also included the 2022 resistance again acts as resistance.
The red line and current cycle circle are acting as support.
Price at the moment seems to be below the bull market support band.

- If support breaks we'll probably follow the resistance circle to the next support at around $23.400
- If support holds and we break resistance we can ride the support circle to $34.000

The first scenario seems most likely at the moment due to S&P500 falling to the bull-market support band at the moment. If this bounces it will suck liquidity out of the market leading to a further crash of crypto.

Note

still following trjectory

missiderap

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