$32,000 could be realized by spring.This temporary spring breeze
Markets sometimes reach saturation and then react and have to acquire new customers. I don't think the bear market that has been going on for about 1.5 years is over. But we will see Bitcoin more active than ever before. Also, as I expect an increase in bitcoin dominance, transitions from altcoins to BTC will increase.
Probably when we see BTC.dom at 52 level, bitcoin will have reached 32,000 levels. There is also the bowl handle formation I showed above. Let's drink our coffees for 60 days and watch the market rise. Probably towards mid-April and early May, hard sales will begin to come. I think there will be a drop at the point where profit realizations started in the summer and then a rally to new highs in mid-2024. American stock markets will definitely recover before the November 2024 US presidential election.
Of course, the Fed is effective, but interest rates have reached saturation and the 2024 American elections are approaching. So they won't be able to act as hard as last year. This gives us a good roadmap.
What are you thinking?
Probably when we see BTC.dom at 52 level, bitcoin will have reached 32,000 levels. There is also the bowl handle formation I showed above. Let's drink our coffees for 60 days and watch the market rise. Probably towards mid-April and early May, hard sales will begin to come. I think there will be a drop at the point where profit realizations started in the summer and then a rally to new highs in mid-2024. American stock markets will definitely recover before the November 2024 US presidential election.
Of course, the Fed is effective, but interest rates have reached saturation and the 2024 American elections are approaching. So they won't be able to act as hard as last year. This gives us a good roadmap.
What are you thinking?
Comment:
A weekly close above $25,200 gets us to our targets. If there is a close below, we will see a pullback towards around 23,500. At this point, it is necessary to proceed as a stop-loss.
Comment:
The pullback was limited to 23,900 and we saw this area as support. I find it pointless that people are constantly buying shorts from these regions. After about 1 year, BTC is in the period we see the strongest. The usdt.d , btc.d in the market show this. That's why I think that the short exposure is only a pull-in operation in the pullbacks and this rise will not end in this region. My expectation of upward price movement continues.
Trade active:
While it shattered our uncertain 50 basis point expectations at the Fed, the ensuing positive mood allowed BTC to continue its rally. At this point, this position maintains its expectations for spring. If the Fed holds steady, a sharp upward move will follow. Therefore, I am already expecting a correction to 25.900 and 25.200 levels.
After that, our bullish position will continue. TP 1 received!
After that, our bullish position will continue. TP 1 received!