just checking my old BTC charts and we found that bitcoin is almost done to his downtrend,
since we can see a clear ending diagonal and the month ABC correction is almost done,
the question right now how dip can bitcoin go? is the current status we can see a possible double pattern set up on daily, the price can go around somewhere 18k+ if were right or somewhere 19k too,
since on abcde apttern around 17k+ was invalidate when bitcoin hits 24k this means price is making
H from 17k LL, the next scenario for this is bitcoin is looking for HL now, that can create a double bottom pattern.
so whats next if bitcoin bottom? the possible scenario is bitcoin will attempt to break 24k-26k level but it wont exceed to 35k or 30k since,
on macro view and economic status and halving schedule bitcoin will enter on long consolidation or accumulation before the next halving start on MAY 04, 2024,
so everyone has plenty of time to accumulate before 2024, so right now if we go to bottom then we can still play the swing strategy on daily, were the bigger range will determine how big it is.
for now lets see what will happen on the price this september after the new feds hikes,
on our previous chart (see attached photo) were looking for bitcoin to go bottom on october 2022.
good luck and i will update this once we see a good signal, for now bitcoin is on 50/50 were price will find double bottom.
From the current price you see its going up or down ? Great chart 👍🏻
WolvesOkami
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@dezelator, still going down price havent test the 17,500 it should retest.
WolvesOkami
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@dezelator, right now were at 3 ending diagonal so btc is looking for very short bounce under 21k then it will finally test the ultimate support at 17,500k+ we should survive here if not were entering the extended were the price can hit 14k-15k.
dezelator
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Totally agree im afraid we are going to 2020 where was btc 5-7K ... since dxy will make new HH .. im with you 100%