in my last post i discussed my bear case,
this right here is the "bull-ish" case.
bull-ish, because the upward move will be straight chop.
alts will perform very well in this environment though, so that's a bonus 💰
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for this particular scenario to play out,
after rejecting 25~26k within the next 7 days, bitcoin will have to see a controlled move down into august which comes down in 3 waves.
it cannot go deeper than 50% of the recent move up from 17k.
>if structure is held until the middle of next month, we can anticipate higher prices into the months ahead into the mid 30k range.
>if price gets rejected in the projected zone, we can look for a decline to about 6k - where a long term bottom will be created.
>halving in 2024 will initiate the next bullish cycle, and bitcorn will go into the hundreds of thousands.
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both of these scenarios are possible, and we won't know which one is at play until price action confirms it.
patience is 🔑.
---
ps. i continue hanging out in cash for the time being until more confirmation is given.
this right here is the "bull-ish" case.
bull-ish, because the upward move will be straight chop.
alts will perform very well in this environment though, so that's a bonus 💰
---
for this particular scenario to play out,
after rejecting 25~26k within the next 7 days, bitcoin will have to see a controlled move down into august which comes down in 3 waves.
it cannot go deeper than 50% of the recent move up from 17k.
>if structure is held until the middle of next month, we can anticipate higher prices into the months ahead into the mid 30k range.
>if price gets rejected in the projected zone, we can look for a decline to about 6k - where a long term bottom will be created.
>halving in 2024 will initiate the next bullish cycle, and bitcorn will go into the hundreds of thousands.
---
both of these scenarios are possible, and we won't know which one is at play until price action confirms it.
patience is 🔑.
---
ps. i continue hanging out in cash for the time being until more confirmation is given.