Many people ask me, how I see the movement of the price of Bitcoin before the end of this year.
I wanna show you the daily chart as I see it.
For better understanding, what future holds, let's look at the past.
Let's start with last autumn, when prices were at the peak. And let's see what happened next.
We can clearly see how the market was "unloaded", forming downward channels, and on a rollback, we observe how a new channel is being formed. That's how it always happens. To verify this, you can look at the older history of Bitcoin.
From November to January 2021/2022, we see a price drop of 53%, then a 40% rollback, followed by the formation of a channel (the formation time is one and a half months). Then again, investors are actively selling bitcoin and we are seeing a sharp drop in price by 63% (from March to June 2022).
And here it will be interesting to observe the further fate, because we can't fall without a rollback, but the end of the bear market will not emerge yet.
I think, that in the next month we'll see a possible rollback even up to 30 thousand and a little higher, and then again falling to even lower levels (16, 11 and 4 are POSSIBLE!!!!!!)
This chart is an expression of my thoughts at the moment and does not pretend to be true, the market is so changeable, I will publish my thoughts over time)
Thank you all for your attention!
Write your thoughts in the comments, it's very interesting to read!
Have a nice day, everyone
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Thanks for sharing , I fully agree and we will go sub 10k levels this year by November
RocketBomb
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@Tradeforgood, I think 10k it's so realistic to see by the end of the year!
cryptospawn
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Hi Rocket. Good to see you're ok. I have been discussing this same subject on other posts. And I agree it looks like we will have a 3rd step down. But I don't think it will be increasing percentage. I think it's safer to use an average of the previous two drops. So, the first drop was 53% and the second was 63% The average of the two would be 58%, which makes $8600 the bottom from the current point. That's not counting rollbacks at all and only counting drop percentages which is a different technique altogether. But of course this is all concluding that BTC will act normally and predictable. And it has not been doing that at all lately. In fact BTC has been surprising traders a lot lately. So who knows what it will bring next. I'm excited to find out though. Best wishes to you and all Ukrainians!
RocketBomb
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@cryptospawn, Hello, thank you very much for the kind words! I'm so pleased!
Yes, I again stepped on the same rake, although I stepped on them already in 2018! haha) Now I'm trying to <<shake up>> again!
It's interesting to watch the price movement! I'd love to see what happens by the end of the year! Stay tuned 💙💛
simplejoe1
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do you see btc just following the s&p?
RocketBomb
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@simplejoe1, yes, I saw! It also looks like going for correction