InvestMate|Bitcoin An opportunity to seize

💰Bitcoin An opportunity to seize

💰My attitude about Bitcoin has not changed, a bullish stance still prevails with me, especially after today.

💰After the US inflation readings in which I perfectly predicted that there would be a decline and a strengthening of the dollar. I invite you to read my post on the dollar that I published on 7 November.

💰Everything I wrote in that post came true.

💰After the Republicans won the mid term elections the dollar strengthened.

💰Falling inflation which is currently at 7.7%

Has cooled markets' anticipation of the next interest rate hike.

💰The market is currently pricing in an interest rate peak of June 2023.

💰Consequently, the market is already discounting in advance, as is always its nature, a strengthening of the dollar.

💰This opens up a great opportunity for Bitcoin.

💰Since the peak, we have already made a drop of a full 77.41%

💰For halving there is still some time to go, with predictions
it is expected to fall in the first half of 2024.

💰As we know from bitcoin's halving history, it has generated a new upward wave every time.

💰Will this be the case this time too?

💰Looking at the fact that we were in accumulation at the 20k level for about 140 days after which we hit new lows, which were very quickly overbought.

💰In the past, such dips to new lows were not so quickly bought. At a time when the Bitcoin market was not so regulated, dips after accumulations were left alone.

💰Currently, we find ourselves in slightly different times.

💰In a time of big interest groups interested in profits in the cryptocurrency market, I'm talking about the big investment funds and banks, colloquially known as whales.

💰Looking at the volume and purchases that are currently taking place on bitcoin, I can only guess
what levels the big players are dreaming of.

💰Being aware of the high correlation that exists between bitcoin and the world's most important index, the S&P500, I see a large divergence in this rule in recent days.

💰There has been a divergence of sorts, juxtaposing the recent rises in the indices with the falls in bitcoin

💰Was it a simple desire to ride for stops of exchange players and clear positions, looking at the losses reported by players here we are talking about billions lost as a result of falls to new levels

💰Assuming we are at the bottom. And that a return to lower levels is unlikely.

💰If we were to rally further I would watch the area around 16.5k. As there are strong fibo levels there which would provide very strong resistance in the event of a bottom.

💰Going back assuming this is the bottom, I decided to use a fibo grid measurement from ATH to the bottom which shows that the fibonacci levels overlap beautifully with previous resistance and support.

💰Please note with what precision they delineate past points of interest.

💰I also decided to use the pitchfork projections and again the overlap of the pitchfork lines coincides perfectly with the key resistances that bitcoin has ahead.

💰I am until amazed at this accuracy.

💰To top it all off using the divergence strategy on the MACD histogram. We have another bullish signal for the collection, the divergence unambiguously shows the moment to buy at the current location.
(The histogram is smaller and the price is lower)

💰Let's hope the downtrend on cryptocurrencies is a thing of the past

💰My opinion on Bitcoin does not change, I still think we are in great places to buy.

💰I hope my extensive analysis has helped you to better understand the Bitcoin chart

🚀If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.🚀

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We are at the 0.618 level I wrote about in the post, I encourage you to watch for the coming reaction

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