BradMatheny

Double Excess Phase Peak In Bitcoin - Seeking A Bottom

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Back in 2021, I warned of an Excess Phase Peak pattern that may setup in Bitcoin . What I didn't see happening was a DOUBLE Excess Phase Peak pattern setting up.

This DOUBLE Excess Phase Peak pattern suggests the $30k to $34k price level in Bitcoin became extended critical support as price continued to navigate through the 5 Excess Phase Peak triggers.

Because price has recently broken below the $30k to $34k critical support, the current price phase is a downward slide while price attempt to find an ultimate bottom (a true bottom).

My expectations are that the $9500 level is where Bitcoin will ultimately find a bottom. Time will tell.

Ultimately, the US/Global markets may follow a similar pattern as we are seeing a global revaluation take place.

Follow my research.

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