If bitcoin will not break 65000 €uro ca $75000 in December then we are in bull market and following 5 cycles in 10 week periods till May 2022 will be selling cycles,
Price will slowly fall up to 15000.
Green arrows are the cycles when buying is profitable (except the unpredictable fluctuation in March 2021 the COVID panic month).
Red are the 10 week periods when...
"YES BEARISH I CAN BUY MORE BTC"
*BTC BULLISH MOVE*
"I'M ALREADY IN PROFIT !!"
*BTC HUGE BEARISH MOVE*
"I HATE THIS!!"
This move is just to take out the most emotional people. Those people just bought BTC, ETH & Altcoins just because most youtubers or social media people are saying: "at the end of the year BTC will always rise" Those people get FOMO. I think...
Based on previous thoughts on the alleged Wyckoff distribution pattern seen during spring bull run, I copied the bars from that time to check for correlation. No arithmetic valuation for this as of yet, might do in the next days. Measuring what seems to be the pattern's entry point, I expect a market top of 78500 EUR (90000 $ today), after Wyckoff characteristic...
This is big bearish think, personally Im waiting for more signals and price action to update prediction.
The most important thing is where BTC will make next spike.
In this case retracement from B to C will break MA 200 D and 221 D down, next retracement from C to D will confirm D as a resistance (S/R reversal is in game).
7 year trendline and bitcoin has tested the trendline and is still above !!!!
If bitcoin don't break the trendline very bullish for bitcoin.
Then bitcoin BTC-EUR shall go to 80000 euro.
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Macro view of BTC market in uptrend. We can see 4th dump of this bullrun on 1W time frame.
Actually Bears do not have big Volume , this is average Volume against big May dump.
It looks like ending of the up trend, maybe big Correction, BUT! MACD made a Red - Cross.
Next days and weeks will show, how market mean it.
Now We can see 2 trend resistance lines which BTC must break up and retest for retracement to ATH and beyond (4H chart).
Bearish movement is in chart too.
Remember, BTC can do everything like other markets, which are tradable.
Stay focus to swings/where BTC will make next high/low.
Since November we are in a downward channel correcting further the over 2 1/2 months old upward trend. As the upward attempt of 19/20th November has failed we may understand this as a sentiment against the Coin for the moment.
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