Based on trend analysis , support and resistance area with CPR and cyclic analasys of CRYPTOCAP:BTC price action . The vertical lines are the end of the BITCOIN SEASON took from altcoin-season-index/ official website. We should be near the end of the Bitcoin season and going to the alts season (even if not a big one i think) i would probably call it an alt relief. And we could after have a cycle TOP for bitcoin resulting in a prolonged downtrend for the 2024. A price action similar to the previous bear cycle i can expect although with difference . I think that 15k could have been the bottom for BTC with maybe another crash to that area in the coming year. We could retest 18k .
ELLIOT WAVES ANALYSIS
We are forming the 2° waves wich started in the last dump to 19k and it has now support at 25400/25200 area. If we break below that this will be invalidated and we could be at cycle top with a further dealy for an alt relief.
I will post more ideas like and comment if you like , share some opinion !
💯💪 maybe retest 21-23k between September and December. I have a funny feeling that it's 🚀🚀🚀 from now till September.
KatoshiCoins
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@sirocoin, i won t count on it. Historically speaking summers are sideways or bearish. I was imagine of a short term final pump or a drop if we break below 25k area.
Nobody knows where BTC price action could be headed next but we have some support area and dominance is strong than ever ! more pain for alts instead